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IMB Losses Narrow to $534 Per Loan in 2Q

Saturday, Aug 19 2023
Lending
Written by  The Mortgage Leader

Independent mortgage banks have continued to lose money in recent months, but less than they were shedding at the start of 2023. So reports DSNews.

MBAAccording to the Mortgage Bankers Association, IMBs—including mortgage subsidiaries of chartered banks—posted a pre-tax net loss of $534 per loan originated in the second quarter.

In the first quarter of the year, losses averaged $1,972 on each loan.

Read the full article from DSNews.

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