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MBA Advocacy Update Nov. 20: Broeksmit Criticizes Bank Capital Proposal; FHA Annual Report to Congress
This week’s top legislative and policy news from the Mortgage Bankers Association.
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MBA Chart of the Week: IMB Average Unrestricted Cash & Cash Equivalents
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.
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October Housing Starts Exceed Expectations
Housing starts rose in October to a seasonally adjusted annual rate of 1.37 million, exceeding the consensus expectation of 1.35 million.