Despite Quarterly Decline, IMB Production Profits Post Record 1st Quarter

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,361 on each loan they originated in the first quarter, down from $3,738 per loan in the fourth quarter but still the highest first-quarter net gain in the history of the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.

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“Despite dropping slightly from the fourth quarter of 2020, net production profits reached their highest level for any first quarter since the inception of MBA’s report in 2008. Triple-digit basis-point profitability was seen for the fourth consecutive quarter – another record that surpasses the 2012 boom generated from Home Affordable Refinance Program.” --Marina Walsh, CMB, MBA Vice President of Industry Analysis.

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