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MBA Advocacy Update July 17, 2023
This week’s top legislative and policy news from the Mortgage Bankers Association.
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MBA Chart of the Week July 17, 2023: IMB Production Expenses Vs. Gross Production Expenses
In May, MBA Research released the first quarter results of its Quarterly Mortgage Bankers Performance Report (QPR). Total loan production expenses – commissions, compensation, occupancy, equipment, and other production expenses and corporate allocations – increased to a study-high of $13,171 per loan in the first quarter.
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Black Knight: Mortgage Locks Edge Lower in June; Credit Availability Continues to Tighten
Black Knight, Jacksonville, Fla., reported overall rate lock volumes were down 1% month-over-month in June, with conforming loans gaining share mainly at the expense of non-conforming loan products.