Today’s mortgage lenders find themselves in the challenging position of dealing with the same high demand for housing and low inventory that real estate professionals face on a daily basis. While the lenders don’t have to go out and find houses and condos for their clients, it’s up to them to identify ways to enable consumers to pay for their dream homes.

They have worked under strained circumstances in the years since the housing market crash that caused prices to plummet and resulted in dramatic increases in foreclosure rates as people struggled to pay their mortgages. Now, lenders are becoming more accustomed to the regulations that were mandated by the TILA/RESPA Integrated Disclosure, even as some regulations are being relaxed as the industry grows stronger.

Lenders have responded to the challenges of having to do their jobs faster and more accurately than in years past, finding innovative solutions that allow them to meet TRID’s requirements. The industry has not suffered as a result of having to adapt. Fannie Mae recently reported a net income of more than $3 billion in the second quarter of 2017, while also ending the practice of allowing the purchase of loans that include contributions from the lenders to allow down payments of as low as 1 percent on some types of loans.

Technology is also driving advances within the industry. Online tools give consumers more access than ever to lenders, and provide those lenders with tools that make it even easier to serve clients.

Chicago Agent magazine recently spoke with three lending professionals to find out how they interpret the current state of the industry, where problems persist and what solutions might be used to make the lending process easier for homebuyers to navigate.