IMBs Report Second Quarter Losses
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $82 on each loan they originated in the second quarter, the Mortgage Bankers Association reported Thursday.
Volume 21 Issue 158.5
Thursday, August 18, 2022
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“The second quarter of 2022 did not yield the usual spring seasonal pick-up in purchase activity, in an environment of higher mortgage rates, low housing inventory and affordability challenges."
--Marina Walsh, CMB, MBA Vice President of Industry Analysis.