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IMBs Just Had Worst Year Since the MBA Has Kept Track

Friday, Apr 07 2023
Lending
Written by  The Mortgage Leader

Last year was the worst for independent mortgage banks’ production profits since the Mortgage Bankers Association’s Annual Mortgage Bankers Performance Report began in 2008.

MBAIMBs and mortgage subsidiaries of chartered banks averaged a $301 loss on each loan originated last year, a swing from 2022’s average profit of $2,339 per loan.

Production revenues fell last year at the same time as production expenses soared to an average of $10,624 per loan, also the highest on record, according to the MBA.

Read more about the report's findings. 

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