Magilla Loans' Survey of Lenders Reveals Lending Supply To Increase In 2018
Lending to Experience Major Expansion in Northwest and Southwest Regions
SACRAMENTO, Calif., Jan. 9, 2018 /PRNewswire/ -- Magilla Loans, America's anonymous search engine for home and business loans conducted its first annual sentiment survey among mortgage and business lenders, who combine to originate more than half a trillion dollars in loans. According to the survey, by an overwhelming margin, lenders expect to lend more in 2018 than they did this year, with the growth expected to be most significant in the Northwest and Southwest regions of the U.S.
The key findings of the survey include:
- 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
"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. "By providing a simple platform for lenders and borrowers to engage with each other, Magilla Loans is prepared for robust expansion in 2018."
Magilla Loans platform does not ask borrowers to provide names, phone numbers, or SSNs in order to shop and compare loans, therefore mitigating any risk of identity theft. Its flagship anonymous search is a key feature which sets Magilla apart.
Methodology
Magilla Loans submitted a survey to more than 200 lenders across the United States, including lenders at seven of the top 10 banks in the U.S. -- Wells Fargo, Bank of America, TD Bank, PNC and US Bank.
About Magilla
Magilla Loans is a search engine for loans which connects borrowers to banks without requesting personal information. The platform enables borrowers to search and compare loans without providing a name, social security, or phone number. The loan proposals are presented on its patented MagChart™, allowing borrowers to easily compare the loan terms and choose a lender. Magilla has already channeled billions of dollars in loans through its website since launching in September of 2015.
To learn more, go to (magillaloans.com). For media inquiries, please contact [email protected] or call 1.844.MAGILLA.
SOURCE Magilla Loans
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