That’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.
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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.
That’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.