Tag Archives: independent mortgage banks (IMBs)

“Volume picked up during the spring homebuying season and additional personnel were shed. However, the substantial cost savings per loan was not enough to put the average net production income in the black,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

The share of mortgages originated by non-depository, independent mortgage companies decreased in 2022—but still accounted for 60.2% of first-lien, one- to four-family, site-built, owner-occupied home-purchase loans (down from 63.9% in 2021).

As the industry continues to face challenging conditions, the MBA reports that independent mortgage banks have endured four consecutive quarters of production losses, and nine consecutive quarters of volume declines.

“For the third consecutive quarter, the average pre-tax net production income was in the red, reaching a new survey low of 99 basis points of loss in the final three months of 2022,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

Independent Mortgage Bankers enjoyed success in 2021, despite an environment of increased expenses, rising mortgage rates, and lower refis.

In a move to expand its point-of-sale and mobile capabilities, nCino purchases provider of mobile-first technology for mortgage lenders in $1.2 billion deal.

All-time low rates drove the housing market to new highs in 2020, as independent mortgage banks saw record profits of $4,200-plus per loan.