MBA: IMBs Report Production Profits in Fourth-Quarter 2025

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net production profit of $674 on each loan they originated in the fourth quarter of 2025, compared to a net production profit of $1,201 per loan in the third quarter, according to the Mortgage Bankers Association’s newly released Quarterly Mortgage Bankers Performance Report.

An MSR Update from MIAC Analytics

For years, conventional wisdom has assumed that “normal” turnover implies a minimum lifetime Conditional Prepayment Rate of 6%. MIAC Analytics Managing Director of MSR Valuations Mike Carnes challenges those assumptions.

An MSR Update from MIAC Analytics

For years, conventional wisdom has assumed that “normal” turnover implies a minimum lifetime Conditional Prepayment Rate of 6%. MIAC Analytics Managing Director of MSR Valuations Mike Carnes challenges those assumptions.