Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net loss of $82 on each loan they originated in the second quarter. It’s a significant drop from the first quarter, when lenders saw a gain of $223 per loan, according to the Mortgage Bankers Association (MBA). The MBA attributed the losses to a rate rising environment and lack of housing inventory. 

“The second quarter of 2022 did not yield the usual Spring seasonal pick-up in purchase activity, in an environment of higher mortgage rates, low housing inventory, and affordability challenges,” said Marina Walsh,  the trade organization’s vice president details ⇒

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