Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association […]
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $1,015 on each loan they originated in the third quarter of 2023. That’s nearly double the reported loss of […]
Cliffco Mortgage Bankers is among the rare independent mortgage banks doing more business than last year. And it’s looking to expand. The New York-based independent bank exceeded its 2022 production volume of $400 million in […]
Independent mortgage banks (IMB) reported an average net loss of $534 on each loan originated from April to June, down from $1,972 per loan in the first quarter of 2023, according to the Mortgage Bankers Association (MBA). The average […]
Despite a marked improvement from the fourth quarter of 2022, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks still lost a mountain of money in the first quarter. On average, IMBs reported a […]
The Urban Institute, a well-known think tank in Washington, D.C., has a Housing Finance Policy Center that does a significant amount of research and analysis on the housing market. They also produce a monthly chart […]
Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks received a disappointing sales report card for 2022, which was led by a rapid rise in mortgage rates, low housing inventory and affordability challenges. These […]
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks spilled red ink in the fourth quarter of 2022 amid a jump in mortgage rates. These companies reported a net loss of $2,812 on each […]
The Community Home Lenders of America (CHLA) wants small banks to be exempted from the proposed rules from the Consumer Financial Protection Bureau (CFPB) that order registry for nonbank financial services providers. In December, the […]
The third quarter used to be historically the strongest of the year for independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks. At least until 2022. On the origination side, these companies’ costs exceeded […]
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