“The performance of servicing portfolios and loan workouts improved in February, as borrowers benefitted from tax refunds, the extra day in the month to submit their payments, and continued resilience in the job market,” --Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. 

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $2,109 on each loan they originated in the fourth quarter of 2023, an increase from the reported loss of $1,015 per loan in the third quarter of 2023, according to the Mortgage Bankers Association’s newly released Quarterly Mortgage Bankers Performance Report.

More than two-thirds of homeowners who have taken out an adjustable-rate mortgage in the past 10 years regret it, according to a new study from home equity investment platform Point, Palo Alto, Calif.