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IMBs Averaged $1,972 Loss Per Loan in First Quarter of 2023

The Mortgage Bankers Association has shared new data showing that independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $1,972 on each loan originated in the first quarter of the year. So reports The Hill.

MBAThat’s down from reported fourth-quarter losses of $2,800 per loan.

For all of 2022, IMBs and banks lost an average of $301 per loan originated, a swing from an average profit of $2,339 per loan in 2020.

Read the full article from The Hill.

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