A report by the Urban Institute, commissioned by the Mortgage Bankers Association, found independent mortgage bank lending to low- and moderate-income neighborhoods, predominantly minority neighborhoods and LMI predominantly minority neighborhoods is much higher than bank lending in those neighborhoods.
Tag: Independent Mortgage Banks
MBA Chart of Week Apr. 7, 2023: IMB Loans Closed Per Production Employee Per Month
In this week’s MBA Chart of the Week, we look at the median productivity of production employees for these independent mortgage bankers, given this drop in production volume.
MBA Chart of the Week Mar. 17, 2023: IMB Net Profits, Production Volume
In this MBA Chart of the Week, we look at production profits in basis points, relative to average production volume, from inception of the MBA Quarterly Mortgage Bankers Performance Report series in third quarter 2008 through fourth quarter 2022.
MBA Reports 4Q IMB Net Losses
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $2,812 on each loan they originated in the fourth quarter, the Mortgage Bankers Association reported Friday.
Breaking MBA Advocacy Update: CFPB Loses Key IMB Redlining Case
On Friday, a District Court in Chicago ruled in CFPB v. Townstone Financial Inc. and Barry Sturner that the Equal Credit Opportunity Act does not extend to prospective applicants under a plain language reading of the statute.
(IMB23) Mortgage Market Outlook: Volatility, Trending Toward Stability
CORONADO, Calif.—Inflation. Higher interest rates. Rising home prices. Market uncertainty. If 2022 threw independent mortgage bankers a curve ball, 2023 already appears to be tossing a knuckleball.
MBA Chart of the Week Apr. 22 2022: IMB Production
This week’s chart shows average production employees (sales, fulfillment and support staff for such functions as production technology, post-closing and secondary marketing) and median productivity of sales staff from 2012 through 2021.
MBA Chart of the Week Apr. 22 2022: IMB Production
This week’s chart shows average production employees (sales, fulfillment and support staff for such functions as production technology, post-closing and secondary marketing) and median productivity of sales staff from 2012 through 2021.
#MBATech2022: How Trends Intersect in a Changing Industry
LAS VEGAS—Real estate finance has migrated quickly from a person-to-person business to a person-to-tech-device-to-person business. And socio-economic forces are rapidly steering technology to reshape business—even as business continues to fine-tune technology.
MBA: IMB Production Profits Fall in 2021 from Record 2020
Despite above-average production profits, mortgage banks saw a decline in 2021 from record profits in 2020, the Mortgage Bankers Association reported Monday.