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