August 2015 Mortgage Originators Survey
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- The non-QM share of originations shrank again to just 0.8 percent of production in the second quarter, while the rebuttable presumption share expanded to 5.5 percent.
- While willingness to originate non-QM and rebuttable presumption loans eased, the share of lenders offering these products increased dramatically.
- For the second consecutive quarter, the share of respondents indicating an increase in investor demand for non-QM loans surged reaching 46.2 percent.
- Over the next six months, respondents expect access to credit for non-QM loans to moderate slightly, while access for rebuttable presumption products remains steady and prime products continue to expand.
- More than half of lenders are concerned about the potential impact of TRID timelines, but only expect 9.5 percent of closings to be delayed and 1.0 percent to be cancelled.
- However, 38.5 percent of lenders report that TRID will moderately impact their willingness to issue pre-approval letters.