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New lender poll highlights purchase trends

A survey released today of mortgage lending professionals conducted by an independent research firm finds that 94 percent of lenders expect mortgage purchase originations to increase in 2017. Further, most lenders believe much of the increase in purchase production will come from first-time homebuyers, with 59 percent of those surveyed saying that purchases by first-time homebuyers will increase in 2017.Homebuyers

The survey results are included in the second annual Lenders One Mortgage Barometer and were gathered online through a random sampling of 200 mortgage lenders. Interestingly, the survey shows that the vast majority of lenders (93 percent) are already originating non-QM loans and that there is increased interest in jumbo loans, with 91 percent of lenders predicting that their jumbo-loan volume will increase significantly in 2017.

Not surprisingly, lenders see “robust” opportunities this year in younger homebuyers, with Gen-X (ages 35-50) edging out millennials (ages 18-34) in the estimation of the lenders surveyed. Gen-X homebuyers were cited by 86 percent of lenders, while millennials were mentioned by 85 percent of respondents. The millennial percentage increased from 79 percent the previous year, however.

Significantly, 83 percent of lenders also mentioned boomerang buyers — borrowers who have suffered through a bankruptcy or foreclosure event but who can once again qualify for a mortgage — as offering opportunities to originators this year. This group only garnered mentions by 68 percent of respondents the previous year.

Will McDermott is editor of the Scotsman Guide Residential Edition. He can be reached at


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