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Most important areas of cost cutting according to mortgage industry experts in the United States in 2nd quarter 2024

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Source

Release date

July 2024

Region

United States

Survey time period

May 2024

Number of respondents

60 respondents

Special properties

senior executives, such as CEOs and CFOs; most important and second most important cost cutting areas

Method of interview

Online survey

Citation formats

Leading cost cutting areas in the mortgage industry in the U.S. 2024

Published by ÌÇÐÄÆƽâ°æ Research Department, Oct 4, 2024

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.

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