Independent Mortgage Banks (IMBs) experienced a significant increase in average net losses on loans originated in the fourth quarter of 2023. The average net loss per loan reached $2,109, almost doubling the losses reported in the previous quarter. This challenging trend highlights the financial strain faced by IMBs as they navigate a complex and uncertain mortgage market landscape.
Key points from the text include:
– IMBs reported an average net loss of $2,109 per loan in Q4 2023
– This figure represents a substantial increase from losses in Q3
– The data underscores the financial challenges IMBs are currently facing in the mortgage industry
– IMBs will need to strategize and adapt to mitigate losses and ensure sustainable operations in the future
You can read this full article at: https://www.housingwire.com/articles/average-imb-lost-2109-per-loan-in-q4-2023/(subscription required)
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