“For the first time since inception of MBA’s report in 2008, net production income was in the red in 2022, with losses averaging 13 basis points. The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted. The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.” --Marina Walsh, CMB, MBA Vice President of Industry Analysis.

Data on 2022 county-level population changes continue to suggest that the coronavirus pandemic had profound and lasting impacts on economic geography—with two million people leaving U.S. cities—according to a report by the Economic Innovation Group, Washington, D.C.

If mortgage servicers ever needed an argument to not hold back on technology investments, they need look no further than the recent fiascos in the airline industry.