Independent Mortgage Bank Loan Losses Increase Almost Eight-Fold
MBA says servicing continues to be the silver lining for IMBs.
MBA says servicing continues to be the silver lining for IMBs.
A 4% jump in purchase applications led the 1st increase in 8 weeks.
Higher rates and the worsening outlook for the housing market and economy cited for decline.
MBA says Refinance Index is down 87%, Purchase Index is down 41% from last year.
MBA says rate volatility will be with us for a while.
Down 41% from a year ago
Kristy Fercho has been company’s head of Home Lending since 2020.
The weekly applications survey remained at its lowest level in 25 years as rates topped 7%.