Mortgage

Q2 2023 Overview Snapshot for Independent Mortgage Bankers

Your Q2 2023 RM Select Overview Snapshot is here, with fresh industry data you won’t find anywhere else. The data shows that lenders found some relief in Q2 2023 with a welcome combination of increased production volume and a sizable decrease in per-loan costs to originate for the first time in three years. 32% of survey participants achieved positive net production income and 50% had positive overall net income in Q2. This is up considerably from Q1 2023, which had only 10% reporting production profitability and 22% with overall profitability.

The full report highlights more key metrics and trends from the results of Richey May Select participants. Click on the image below to download the report.

Richey May’s web-based benchmarking tool, RM Select, gives lenders a full financial and operational picture of peer performance within 35 days of quarter end. Delivering precise comparative data via a clean, intuitive dashboard, it helps drive more informed decision-making aimed at improving efficiencies, increasing margins and controlling costs. “Invaluable in our day-to-day business operations.” That’s how one industry peer sums up its impact. Learn more about this invaluable tool and discover the competitive difference it can make for your business.

For access to the detailed reports, including an analysis of the results, please email us at RMSelect@richeymay.com.

To view a Snapshot Report from a previous quarter, visit our Snapshot Library.