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While 2015 was a prosperous year for lenders, a tougher mortgage market lies ahead in 2016. With the Fed hanging at least four rate hikes over the industry, this could place damper on origination business operations.
Fannie Mae's quarterly Mortgage Lender Sentiment Survey shows that 89 percent of lenders say their concerns with compliance risk have increased since the previous year and 88 percent say compliance risk will be a key area of focus in 2016. Concern over volume decrease risk has fallen compared with one year ago. However, about half of lenders still expect it to be an area of focus in 2016.
In a speech today at the Johns Hopkins Carey Business School, President of the Federal Reserve Bank of Richmond Jeffrey M. Lacker discussed monetary policy, inflation, and how the central bank can help spur economic growth. But the biggest takeaways were that inflation may soon rise, and central bankers have a responsibility to keep it stable
