Survey: Lending to Experience ‘Major Expansion’ in Northwest, Southwest

A new survey says lenders expect to lend more in 2018 than they did last year, with growth expected to be most significant in the Northwest and Southwest U.S.

Magilla Loans, Sacramento, Calif., which describes itself as an anonymous search engine for home and business loans, said its survey of more than 200 lenders found 88% of lenders expect to lend more in 2018 than in 2017;

“Of the emerging trends disclosed in the lender survey, the most prominent is that nearly all lenders will be more aggressive in 2018, pointing to a positive inflow of residential and commercial loans across the United States,” said Dean Sioukas, CEO of Magilla Loans.

The survey also reported 56% of lenders believe a Fed rate hike will influence how much they lend to borrowers.

Among lenders surveyed, most said they are more interested in increasing their originations in the Northwest and Southwest regions. To do so, more than one-third (36%) of lenders said they will reduce their current requirements for loan approval.