An overwhelming 71% of bankers surveyed by Professional Risk Managers’ International Association believe that the increase in home prices are sustainable in the context of mortgage and lending risk. Also another 59% expect the demand to be met for credit for mortgages and 60% expect the demand of refinancing to be met as well.
Dr. Andrew Jennings, chief analytics officer at FICO and head of FICOLabs stated, “The latest survey results, combined with data that indicates the real estate market is improving in many regions, paint a positive picture for a sector of the economy that has been slow to join the recovery. Mortgage lenders have been understandably guarded over the past five years. The improvement in their sentiment should be welcome news, and I wouldn’t be surprised to see lenders cautiously expanding their mortgage and home equity lending businesses.”