By Rob Chrisman
Posted To: Pipeline Press
The MBA tells us that independent mortgage banks and mortgage subsidiaries of chartered banks “average production volume totaled $417 million per company in the fourth quarter of 2014, down from $437 million per company in the third quarter, but up from $367 million per company a year ago.” The fabled MBA Vice President of Industry Analysis Marina Walsh stated that these companies reported a net gain of $744 on each loan they originated in the fourth quarter, down from $897 per loan in the third quarter, but keep things in perspective: we saw $150 per loan (9 basis points) a year ago. And once again LOs are suggesting that companies should instead break even and pass along any potential profit in the form of lower margins and more aggressive rate sheet pricing. But that is a failed argument…(read more)
Via:: Lender Updates; Mortgage Bank Profits; Apps Confirming Homebuying Season?
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