MBA: IMBs Report Net Production Losses in Third-Quarter 2023

Independent mortgage banks and mortgage subsidiaries of chartered banks 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, according to the Mortgage Bankers Association’s newly released Quarterly Mortgage Bankers Performance Report.

MBA: Mortgage Delinquencies Increase in the Third Quarter

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62% of all loans outstanding at the end of the third quarter of 2023, according to the Mortgage Bankers Association’s National Delinquency Survey.

Quote: Oct. 17, 2023

“The number of loans in forbearance dropped in September, but the overall performance of servicing portfolios and loan workouts declined slightly.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.