In our Special Topics series, we look closely at data collected through our National Housing Survey®, Mortgage Lender Sentiment Survey®, and customized research to explore specific trends, challenges, and opportunities facing consumers and mortgage lenders in today's housing market.
Shopping Around for a Mortgage Pays Off for Consumers
August 5, 2019
Despite the sizable potential cost savings, more than one-third of 2018 homebuyers say they did not shop around before selecting their mortgage lender, according to our latest findings from the National Housing Survey®. The good news is that two-thirds of homebuyers did comparison shop and, in turn, said they experienced more financially favorable terms than those who didn't obtain multiple quotes.
Technological Investment Necessary in Evolving Mortgage Landscape, Lenders Say
July 18, 2019
Mortgage lenders continue to cite “consumer-facing technology” as the most important business priority to maintain competitiveness, according to Fannie Mae’s Mortgage Lender Sentiment Survey® (MLSS). Additionally, most lenders consider “online business-to-consumer lenders” as their biggest competitor, citing their advantages in technology.
Consumers Continue to Overestimate Mortgage Requirements
June 5, 2019
We’ve seen consistently in Fannie Mae's National Housing Survey that the vast majority of Americans prefer homeownership over renting a home. Despite increased exposure to credit scores and online resources, consumer understanding about what it takes to qualify for a mortgage has not improved since our original study in 2015, potentially discouraging willing and qualified Americans from taking steps toward homeownership.
Mortgage Lenders Look to Leverage New Technologies to Gain Competitive Advantages
April 22, 2019
Mortgage lenders view Application Programming Interfaces (APIs) and Optical Character Recognition (OCR) as the top two technologies with the greatest potential to help improve or streamline processes, according to Fannie Mae’s Q1 2019 Mortgage Lender Sentiment Survey® (MLSS). Ease of technology integration was the most important criterion cited by lenders when deciding to adopt a third-party API.
Banks' Online Services Appreciated, but Big Tech Competitors Loom
February 5, 2019
While only a minority of Americans say they are "very likely" to recommend their bank, they tend to stay with them out of convenience and trust, according to respondents who participated in Fannie Mae’s third quarter 2018 National Housing Survey (NHS). The survey also found that tech companies, which are increasingly offering financial services to consumers, do not inspire much trust.
Lenders: A Shortage of Supply Slowed 2018 Home Sales and Worsened Affordability
January 30, 2019
An insufficient supply of homes available for sale was the top reason for the slow growth in home sales last year, according to lenders surveyed as part of Fannie Mae's Mortgage Lender Sentiment Survey in the fourth quarter of 2018. The survey also found high home prices and an increase in mortgage rates to be notable factors behind the drop in sales activity.
How Will Artificial Intelligence Shape Mortgage Lending?
October 4, 2018
As part of its quarterly Mortgage Lender Sentiment Survey®, Fannie Mae's Economic & Strategic Research Group (ESR) surveyed senior mortgage executives in August to better understand lenders' views about AI/ML technology and, specifically, to gauge their interest in various AI/ML application ideas.
Home – What It Means to Native American Families
September 27, 2018
When it comes to housing finance, Native Americans are considered one of the most underserved populations in the country. To better understand the unique cultural views on homeownership ... we conducted individual interviews with a small sample of lower-income Native Americans.