Sunday, November 27, 2022 | The Latest Buzz for the Appraisal Industry

Independent Mortgage Banks Experience Production Profit Decrease in Q1 2022

Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks reported a net gain of $223 on each loan they originated in the first quarter of 2022, down from a reported gain of $1,099 per loan in the fourth quarter of 2021, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.

“It was a challenging mortgage market environment in the first quarter of 2022, with rising mortgage rates and