Forty-five percent of respondents identified increased compliance burdens as the biggest threat to the housing industry over the next 12 months. An additional 32 percent cited borrower access to credit as the biggest threat, 20 percent believe the biggest threat is the current rising rate environment, and three percent cited lack of progress on GSE reform as the most severe industry threat.
Key Takeaways:
- The results fall in line with other sentiments at the convention that the mortgage industry has a better handle on regulation and is ready to start innovating.
- The survey digs further into the feelings the industry still holds toward regulations even if they are ready to start looking ahead to more technology.
- Clifford stated that while the industry is slowly dipping its toes back into low-down-payment products, it’s growing.
“Taking advantage of all the people in attendance at the 2016 Mortgage Bankers Association Annual Convention and Expo in Boston In October, Genworth Mortgage Insurance, an operating segment of Genworth Financial, surveyed industry executives, gathering opinions from more than 200 mortgage professionals to see the state of the industry.”
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