Posted To: MND NewsWire
With the caveat that its Lender Sentiment Survey was conducted in February when the world was a very different place , Fannie Mae says mortgage lenders set several new highs with their optimistic outlooks for business in the first quarter. Fifty-one percent of lenders surveyed believe their profit margins would grow this quarter compared to Quarter 4 of 2019. Forty-four percent expected them to remain relatively flat. Only 4 percent were expecting profits to decline. Consumer demand was the primary reason for the optimism regarding profits. It was mentioned by 67 percent of respondents while operational efficiency, i.e. technology, was cited by 51 percent. Among the few who expected profits to decrease, competition (50 percent) and staffing costs (42 percent) were the leading reasons. Those…(read more)
Source: Mortgage News Daily
