US Banks’ Historic Mortgage Losses Amid Housing Shock: Report

US Banks' Historic Mortgage Losses Amid Housing Shock: Report

Mortgage Banker’s Association’s latest report shows that US banks are facing record losses on mortgages. In 2022, independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $301 per loan, down from an average profit of $2,339 in 2021. This is the first time on record that banks are experiencing a decline in revenue, affecting the real estate industry at large, including businesses, investors, and everyday Americans. The report analyzed the latest stats from 2022.

Read more at The Daily Hodl

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US Banks' Historic Mortgage Losses Amid Housing Shock: Report
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US Banks' Historic Mortgage Losses Amid Housing Shock: Report
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Mortgage Banker’s Association’s latest report shows that US banks are facing record losses on mortgages.
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The Daily Hodl
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