Mortgage Profits Doubled in Q1

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Posted To: MND NewsWire

Mortgage profits soared in the first quarter of 2015 the Mortgage Bankers Association (MBA) said this week, nearly doubling the per loan net produced in the fourth quarter of 2014. Independent mortgage banks and subsidiaries of chartered banks reported increased refinancing volume and secondary marketing gains allowed them to compensate for increased origination costs. According to MBA's Quarterly Mortgage Bankers Performance Report, banks had a net gain of $1,447 on each loan they originated during the quarter. In the previous period they reported a gain of $744 per loan. "Net production profits among independent mortgage bankers nearly doubled from the fourth quarter of 2014 and secondary marketing gains improved by 31 basis points over the fourth quarter, based largely on the increase in...(read more)

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Source: http://www.mortgagenewsdaily.com/06032015_mba_mortgage_profits.asp

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