Continued housing demand and a lack of existing inventory are just two of the forces that make construction-to-permanent loans an ideal opportunity to make up for lost volume in today’s marketplace.
Read More »IMBs Report Profit Losses in Q2
With IMBs reporting an overall net loss of $82 on each loan they originated in Q2, one analyst notes that “the second quarter of 2022 did not yield the usual Spring seasonal pick-up in purchase activity."
Read More »Independent Mortgage Bankers’ Quarterly Profits Dip
Analysts say stiffer competition, lower production volume, and a shift in purchase/refi activity led to lower revenues and higher expenses.
Read More »Closing Costs Sink Profits at Independent Mortgage Banks
According to the Mortgage Bankers Association’s (MBA) Performance Report for Q4, independent mortgage banks and mortgage subsidiaries of chartered banks took in an average profit of $150 on each loan they originated, a record low. That number was down from $743 per loan in Q3. “Fourth-quarter production profits were at their lowest levels since [the] inception of the Performance Report in 2008,” said Marina Walsh, MBA’s VP of industry analysis.
Read More »