According to a survey by the Mortgage Bankers Association, three out of four independent mortgage banks were in the red during the last three months of 2022.
The survey found that the lenders averaged a fourth-quarter loss of $2,812 per loan.
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
Estimated reading time: 0 minutes, 20 seconds
Mortgage Banks’ Belt-Tightening Couldn’t Beat Volume Decline
Most mortgage lenders bled cash in the fourth quarter, notwithstanding thoroughgoing attempts to cut costs. So reports The Real Deal.
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