Wednesday, November 30, 2022 | The Latest Buzz for the Appraisal Industry

Independent Mortgage Banks Report Q3 2022 Losses

Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks reported a net loss of $624 on each loan they originated in the third quarter of 2022, down from a reported loss of $82 per loan in the second quarter of 2022, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.

“The average pre-tax net production income per loan reached its lowest level since the inception of MBA’s report