If lenders’ losses come in as expected during fourth-quarter 2023 and first-quarter 2024, it will represent eight consecutive quarters of losses for more than 350 independent mortgage bankers, said Jim Cameron, senior partner at Stratmor.
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks have collectively been in the red for six consecutive quarters. Most recently, they reported an average
The past three years in the mortgage industry were cutthroat, with origination volume shrinking, and while things are looking better for 2024, lenders are still in a position where they must make bold moves to stem losses on the production side of the business, according to a report from Stratmor Group, a mortgage advisory firm.
More than half of mortgage executives who participated in Stratmor’s recent survey indicated that they do not believe their companies have turned the corner to become profitable when it comes to originations — excluding details ⇒
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