Posted To: Pipeline Press
Welcome to the Monday-est Tuesday of the year. Hey, the cost to produce a home loan has fallen! Per the Mortgage Bankers Association, total loan production expenses decreased to $7,800 per loan in the second quarter of 2017 from $8,900 in the first quarter of 2017 for independent mortgage banks. The net gain was about $1,100. Wait...you want to make big bucks by servicing loans? That's fine, but due to rates dropping in the 2nd quarter, balance sheet values dropped. Did your increase in production act as a hedge? Disaster Aid From Investors and Lenders Many of our industry's vendors and lenders are helping out - here's a random sampling. To help the flood victims, Notarize will offer free notarizations for state and local forms requiring notarization after a natural disaster. Some may be required...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2eBAVch
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