Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage saw mortgage origination volume plummet by 40% last year — at a time when mortgage rates had more than doubled, home prices remained elevated and the market suffered from a shortage of inventory.
Prosperity, a full-service mortgage banker operating in 49 jurisdictions in the U.S., plans to invest in tech, reduce vendor costs and focus on realtor partners in 2023. However, the lender doesn’t expect to close more origination volume this year than it did in 2022.
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