General World News

The average IMB lost $534 per loan in Q2, a big improvement from Q1

Independent mortgage banks (IMB) reported an average net loss of $534 on each loan originated from April to June, down from $1,972 per loan in the first quarter of 2023, according to the Mortgage Bankers Association (MBA). The average pre-tax production loss was 18 basis points in Q2. 

Including both the production and servicing business lines, 58% of retail mortgage companies were profitable in Q2, up from 32% in the first quarter of 2023.

“There were signs of improvement in the second quarter of 2023. Production losses were less severe than the previous two details ⇒

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