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BREAKING NEWS

IMB 4Q Production Profits Fall to 3-Year Low

Volume 21 Issue 56.5

Tuesday, March 22, 2022

MBA: IMB 4Q Production Profits Fall to 3-Year Low

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,099 on each loan they originated in the fourth quarter, its lowest level in three years, the Mortgage Bankers Association reported Tuesday.

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“With revenue tightening and volume slowing, it is becoming increasingly important for companies to adjust costs as the lending landscape moves from a rate-term refinancing market to a purchase and cash-out refinancing market.” --MBA Vice President of Industry Analysis Marina Walsh, CMB.

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