Mortgage Industry News
« Return to Mortgage Industry News
Mortgage Profits Doubled in Q1
Thursday, June 4, 2015
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.
Read Full Article