by Calculated Risk on 8/21/2014 07:59:00 PM

From housing economist Tom Lawler:

The Fannie Mae Economic & Strategic Research Group released the results of a recent survey of senior mortgage executives designed to see how mortgage lenders had and/or would “adapt” to the new Ability-To-Repay (ATR) and Qualified Mortgage (QM) standards that become effective January 10, 2014. A total of 201 executives representing 186 institutions completed the survey between May 28 – June 8,2014.

Here are the results for a subset of the questions.

Impact of ATR/QM Rules (% of Respondents)
	Ease	Basically Unchanged	Tighten
Credit Standards	6%	58%	36%
	Increase	Remain About the Same	Decrease
Operational Costs	74%	19%	7%
Strategy on Non-QM Mortgage Loans
	Actively Pursue	Wait and See	Do NOT Plan to Pursue
Non-QM Loans	19%	46%	34%

A presentation on the survey results is available at Impact of Qualified Mortgage Rules and Quality Control Review