Higher Volume, Larger Loans Boost Mortgage Profits

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Posted To: MND NewsWire

Per loan profits increased in the second quarter the Mortgage Bankers Association (MBA) said today, aided by purchase volume and loan size. MBA's quarterly survey of independent mortgage banks and mortgage subsidiaries of chartered banks showed increased production resulted in a net gain of $1,522 on each loan originated compared to a reported gain of $1,447 per loan in the first quarter of 2015. "Average company production volume was up in the second quarter, as purchase volume grew and mortgage pipelines from the first quarter's refinance boomlet closed," Marina Walsh, MBA's Vice President of Industry Analysis said. "The production volume increase resulted in a nominal decrease in per-loan production expenses, which offset a decrease in secondary marketing income . However, by historical...(read more)

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Source: http://www.mortgagenewsdaily.com/08252015_mba_mortgage_profits.asp

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