
Mortgage lenders losing money on loans
Mortgage lenders lost about $300 on average for each loan they originated last year. That's according to a new report from the Mortage Bankers Association. So, what does that mean for home buyers and will it impact your ability to get a home loan? Corey Burr, founder of the Burr Group at Sotheby's International Realty, says the good news is there's never been more borrowing options than what the mortgage industry is offering right now.