General administrative (G&A) expenses such as facilities and equipment were the most important cost-cutting area according to U.S. mortgage industry experts in the second quarter of 2024. Back office staff was the second item in the ranking, chosen by almost half of respondents. In the same survey, cost cutting emerged among the leading business priorities in the mortgage industry for 2024. Since 2021, new business for mortgage lenders has dramatically declined, as mortgage interest rates soared and the value of mortgage originations plummeted.
Most important areas of cost cutting according to mortgage industry experts in the United States in 2nd quarter 2024
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Fannie Mae. (July 8, 2024). Most important areas of cost cutting according to mortgage industry experts in the United States in 2nd quarter 2024 [Graph]. In Statista. Retrieved January 08, 2025, from https://www.statista.com/statistics/1497058/mortgage-industry-cost-cutting-areas-usa/
Fannie Mae. "Most important areas of cost cutting according to mortgage industry experts in the United States in 2nd quarter 2024." Chart. July 8, 2024. Statista. Accessed January 08, 2025. https://www.statista.com/statistics/1497058/mortgage-industry-cost-cutting-areas-usa/
Fannie Mae. (2024). Most important areas of cost cutting according to mortgage industry experts in the United States in 2nd quarter 2024. Statista. Statista Inc.. Accessed: January 08, 2025. https://www.statista.com/statistics/1497058/mortgage-industry-cost-cutting-areas-usa/
Fannie Mae. "Most Important Areas of Cost Cutting According to Mortgage Industry Experts in The United States in 2nd Quarter 2024." Statista, Statista Inc., 8 Jul 2024, https://www.statista.com/statistics/1497058/mortgage-industry-cost-cutting-areas-usa/
Fannie Mae, Most important areas of cost cutting according to mortgage industry experts in the United States in 2nd quarter 2024 Statista, https://www.statista.com/statistics/1497058/mortgage-industry-cost-cutting-areas-usa/ (last visited January 08, 2025)
Most important areas of cost cutting according to mortgage industry experts in the United States in 2nd quarter 2024 [Graph], Fannie Mae, July 8, 2024. [Online]. Available: https://www.statista.com/statistics/1497058/mortgage-industry-cost-cutting-areas-usa/
