Most lenders anticipated a better regulatory environment this year, but don't think that will immediately have an impact on their expenses.
Seventy-three percent of lenders anticipate less pressure from federal regulation as a result of the change in administration, according to a survey conducted by research firm Ebiquity on behalf of mortgage industry cooperative Lenders One.
"Despite some industry concerns over rising interest rates, lenders are optimistic about the potential for a more flexible regulatory environment in 2017," said Chief Executive Officer Bryan Binder in a press release.
However, 65% of respondents to the survey still think
Despite an expected decline in volume, only 25% flagged marketing as their biggest investment.
Investments in compliance do appear to be paying off for many lenders, as 65% described themselves as prepared for Home Mortgage Disclosure Act changes.
However, other lenders are still struggling with HMDA implementation. Thirty-two percent of survey respondents are finding it tough to get the resources needed to report and analyze additional data needed to fulfill the new requirements.
