As refinances continue to diminish, home lenders continue to relax credit standards. With the ongoing outlook for profits still weak, firms are feeling pressure to cut staffing.
On purchase-money mortgages that are eligible for purchase by the government-sponsored enterprises, third-quarter demand was up at half of home lenders.
But another 24 percent of respondents reported that demand for GSE loans moved lower. That put the net-up share at 26 percent.
Source: Mortgage Daily