According to MBA’s Q1 2024 Quarterly Mortgage Bankers Performance Report, independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net production loss of 25 basis points, or $645 per loan.
Tag: Quarterly Mortgage Bankers Performance Report
MBA: IMBs Report Net Production Losses in the First Quarter of 2024
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $645 on each loan they originated in the first quarter of 2024, a decrease from the reported loss of $2,109 per loan in the fourth quarter of 2023, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.