After several years of choppy performance, independent mortgage banks returned to the black in the third quarter, posting a gain of more than $250 per loan, even as per-loan production costs edged higher
As mass layoffs at the agency are paused, law firm Garris Horn’s Senior Partner calls memo’s info, detail a ‘huge win’
Consumer finance watchdog’s headcount reportedly at about 12% as internal memo calls for focus on mortgages, big banks
CHLA calls relief from registration reg a win for small independent mortgage banks
Although revenue fell slightly, average production costs dropped by about $1,800 per loan.
Production losses down from $2,109 per loan in Q4 2023
Listen to the August 2023 Cover of Mortgage Banker Magazine.
MBA report indicates $1,015 loss per loan in Q3; servicing rights keep the lights on
32% of companies were profitable in Q1, up from 25% in Q4.
Annual report says IMBs, on average, lost money on originated loans for the first time in since report was founded in 2008.
