This week’s top legislative and policy news from the Mortgage Bankers Association.

MBA Research recently released the third quarter results of its Quarterly Mortgage Bankers Performance Report. The results showed that independent mortgage banks and bank subsidiaries reported a pre-tax net loss of $1,015 on each loan they originated in the third quarter of 2023, an increase from the reported loss of $534 per loan in the second quarter of 2023.

Housing starts rose in October to a seasonally adjusted annual rate of 1.37 million, exceeding the consensus expectation of 1.35 million.