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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Navigating Current Lending Trends: What Borrowers Need to Know Stay updated on current trends in the lending sector, including rising interest rates, technological advancements, and inclusive financial programs. Discover how these changes can impact your borrowing decisions.
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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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