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.

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.

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.

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.

MBA: 3Q IMB Production Profits Increase

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $2,594 on each loan they originated in the third quarter, up from $2,023 per loan in the second quarter, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.