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Non-Agency, POS, Warehouse Products; STRATMOR on the Business Cycle; Production Costs

Sometimes it’s tough to find good news out there. For independent mortgage bank (IMB) and mortgage subsidiaries of chartered bank lenders, the MBA reports that production costs exceeded $11,000 per loan in the 3rd quarter leading to a net loss of $624 on each loan they originated. (More below.) And the cost of determining a borrower’s credit will be heading significantly higher, according to word on the street. The increases are not coming from credit resellers, such as credit repo...
United States Donnie Martin Jeff Bonner Jim Cameron Tom Piecenski James Johnson

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