Independent Banker - December 2017 - 60

Lender Life
MORTGAGE LENDING
Battling a mortgage
lending dip
Increased lender competition and tepid demand are putting pressure on the
mortgage lending business among community banks.
By Beth Mattson-Teig
A
ccording to the Q3 2017
Fannie Mae Mortgage
Lender Sentiment
Survey, net profit
margins have been on
a downward trajectory for the past
four quarters. Although 54 percent of
survey respondents said their profit
margin outlook for the next three
months remains the same, 29 percent
anticipate a decrease compared to 17
percent who expect an increase.
The top two reasons cited for
declining profit margins are increased
competition at 74 percent and
constrained consumer demand at
35 percent. The big issue affecting
many community banks is a shortage
of homes for sale. " We have quite a
few markets where there just aren't
a lot of houses available for people
who want to be buying, " says Paul
Peterson, a senior vice president of
corporate residential real estate at
Glacier Bancorp Inc., a $10 billion
banking company in Kalispell, Mont.
The month's supply-stated as the
number of months it would take for
56 ICBA Independent Banker December 2017
all current homes on the market to be
sold-has been hovering at about four
months this year. This is well below
the six-month level that represents
a balanced market, according to the
National Association of Realtors
(NAR). Home sales for September
were at 5.39 million, which is relatively
flat year-over-year and a 0.7
percent increase compared to August,
according to NAR.
Some markets have a 30-day supply
of existing housing inventory or less,
adds Peterson.

Independent Banker - December 2017

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Table of Contents
Independent Banker - December 2017 - Intro
Independent Banker - December 2017 - Cover1
Independent Banker - December 2017 - Cover2
Independent Banker - December 2017 - Table of Contents
Independent Banker - December 2017 - 2
Independent Banker - December 2017 - 3
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