Survey of Mortgage Originators, First Quarter 2016
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- Non‐QM lending tumbled in the 1st quarter from already anemic levels as investor demand for non‐QM loans retreated, but lenders expected it to improve modestly over the next six months.
- Credit access in general is expected to rise over the coming six months driven by gains in prime and near prime lending.
- The share of transactions delayed due to TRID was slashed from 8.3 percent to just 1.8 percent with no cancellations due to TRID.
- Respondents continue to advise for longer rate locks, but nearly three quarters indicated that they could complete settlement without the buffer, though the use of rate lock extensions rose.