Q1 Profits Down for Independent Mortgage Banks

National Mortgage Professional, June 6, 2017–Phil Hall
Independent mortgage banks and the mortgage subsidiaries of chartered banks brought in a net gain of $224 on each loan they originated in the first quarter, a significant drop from the reported gain of $575 per loan in the fourth quarter of 2016, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.