While buyback volumes remain well below their 2022 peak, they are still elevated compared to pre-pandemic levels. The added cost pours salt in the wound for credit unions, banks, and independent mortgage bankers, who are already recording average pre-tax losses of $534 per loan origination. This challenging environment, marked by high operating costs and low origination volumes, has pushed lenders to operate leaner than ever, as evidenced by reports from the Mortgage Bankers Association that independent mortgage bankers have reduced their sales and non-sales staff by 44% since 2022. Trimming headcount helps cut costs, but it also introduces details ⇒

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