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

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Mortgage Lender Sentiment Survey

Survey Shows Lenders’ Limited Credit Overlay Practices

July 2015

The U.S. economy has improved significantly since the Great Recession, and mortgage credit standards are loosening gradually. Nevertheless, the homeownership rate continues to decline and remains currently at the lowest level since 1990. Credit overlays, referring to stricter mortgage approval standards that lenders place above the guidelines set by investors (such as the GSEs), are a potential and often cited factor impacting consumers’ access to mortgage credit. Fannie Mae’s Economic & Strategic Research Group surveyed senior mortgage executives in May 2015 through its quarterly Mortgage Lender Sentiment Survey to examine the attitudes of lenders in relation to credit overlays.

MLSS Credit Overlays

Downloads and Related Links
FM Commentary
MLSS Topic Analysis Q2 2015 (PDF)

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