As the mortgage lending market has tightened, lenders are competing for new business within a relatively small pool of qualified buyers.

According to Arizent Research:

• Almost four in 10 housing finance professionals name unaffordability as the biggest near-term challenge for the industry
• 41% of traditional mortgage lenders say a lack of qualified buyers is the greatest challenge they expect to face

The current tightness isn’t expected to last, but mounting challenges — including increased competition and a lack of top industry talent — are likely to linger.