MBA: IMB Production Profits Increase in Second Quarter
IMBs and mortgage subsidiaries of chartered banks reported a pre-tax net production profit of $973 on each loan they originated in the second quarter, compared to a net production profit of $727 per loan in the first quarter, MBA reported.
July Housing Starts Drop
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,239,000, 12.4% below the revised June estimate, the U.S. Census Bureau reported Tuesday.
