These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). For many of these transaction-oriented, monoline mortgage lenders, it’s always a question of feast or famine. For most of this century, they’ve come out on the winning side. Today, many might feel sorry for the IMB.
This is true, even though we all know there are very few winners when the industry slows down as quickly and significantly as it has over the past 24 months. Mortgage loan volume in the second quarter of 2023 was down 56% from the same period last year, according details ⇒
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