Magilla Loans, a $4 billion lending platform/search engine that calls themselves the Kayak of lending, just released their annual "Survey of Lenders" and discovered in the data that these more than 200 lenders reveal the lending supply in 2018 will increase. That's good news for financial institutions looking for another good year of loans, which allows them to plan appropriately for the next 12 months or so.
To gain more details of Magilla Loans' survey, we invited the firm's CEO Dean Sioukas on the show, who provided us with a few more key takeaways with explanations behind these findings:
88% of lenders expect to lend more in 2018 than in 2017
56% of lenders believe a Fed rate hike will influence how much they lend to borrowers
Lenders are more interested in increasing their originations in the Northwest and Southwest regions of the U.S.
More than a third (36%) of lenders will be reducing their current requirements for loan approval
Check it out and let us know your thoughts.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.