New Lender Survey Suggests QM Will Impact Credit Standards and Operational Costs

Mortgage Lender Sentiment Survey

TRID: Larger Lenders Have the Advantages for Now

May 11, 2016

The Consumer Financial Protection Bureau's Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rule took effect on October 3, 2015, as part of its "Know Before You Owe" initiative. The TRID rule requires lenders to provide two loan documents, the Loan Estimate and the Closing Disclosure, and places new responsibility on lenders for the timing, accuracy, and completeness of the disclosures, requiring them to revamp their disclosure and closing processes.

Fannie Mae's Economic & Strategic Research Group (ESR) surveyed senior mortgage executives in February, a few months after TRID enforcement, through its quarterly Mortgage Lender Sentiment Survey® to examine lenders' experiences with implementing TRID requirements and their views about the impact of TRID on their operation, the competitiveness of the mortgage industry, and consumer behaviors. Read the FM Commentary and data presentation for the full findings.

Lenders who say their credit standards have eased or tightened over the past threee months

Mortgage Lender Sentiment Survey Archive
Click here for an archived list of Fannie Mae's Mortgage Lender Sentiment Survey results.