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.
Tag: Independent Mortgage Banks
MBA: IMBs Report Net Production Losses in the Fourth Quarter of 2023
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.
Fannie Mae’s Tim McCallum Discusses 2024 Expectations: #MBAIMB24
NEW ORLEANS–Tim McCallum, senior vice president and head of single-family business account management at Fannie Mae, sees more optimism in the market today than in recent months.
Broeksmit Discusses Recent Wins, Current Challenges: #MBAIMB24
NEW ORLEANS–In the face of a difficult business climate, the Mortgage Bankers Association is fighting for Independent Mortgage Bankers every day to ensure they can deliver for borrowers, MBA President and CEO Robert Broeksmit, CMB, said here at MBA’s Independent Mortgage Bankers conference.
MBA: IMBs Report Net Production Losses in the Second Quarter
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $534 on each loan they originated in the second quarter, an improvement from the reported loss of $1,972 per loan in the first quarter of 2023, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.
MBA/Urban Institute Report Finds IMB Lending to Minority Neighborhoods/Borrowers Exceeds Banks
A report by the Urban Institute, commissioned by the Mortgage Bankers Association, found independent mortgage ban lending to low- and moderate-income neighborhoods, predominantly minority neighborhoods and LMI predominantly minority neighborhoods is much higher than bank lending in those neighborhoods.
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) The Mortgage Market: IMB Leaders’ Perspectives
CORONADO, Calif.—With a volatile economic outlook, how are the practitioners—the independent mortgage bankers—approaching 2023 and beyond?
MBA: 1Q IMB Production Profits Decrease
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $223 on each loan they originated in the first quarter, a sharp drop from a reported gain of $1,099 per loan in the fourth quarter, the Mortgage Bankers Association reported Tuesday.
MBA: IMB 4Q Production Profits Fall to 3-Year Low
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,099 on each loan they originated in the fourth quarter, its lowest level in three years, the Mortgage Bankers Association reported last Tuesday.