Posted To: MND NewsWire
The bottom line for many mortgage banks recovered significantly in the second quarter of 2017, after two quarters of severely declining profits. The Mortgage Bankers Association (MBA) said on Tuesday that its survey of independent mortgage banks and mortgage subsidiaries of chartered banks revealed, on average, a five-fold increase from the slim profits in Q1. In its Quarterly Mortgage Bankers Performance Report , MBA said banks claimed a net gain of $1,122 on each loan they originated in the second quarter compared to $224 per loan in the first quarter of 2017, itself down from $575 in the fourth quarter of 2016. Average production volume increased to $526 million per company from $455 million per company in the first quarter, and the number of loans originated per company rose to an average...(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/2xKDbpf
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