U.S. Independent Mortgage Banks Loan Volumes, Profits Dive in 2017
WORLD PROPERTY JOURNAL, INC | April 17, 2018
According to the Mortgage Bankers Association's Annual Mortgage Bankers Performance Report, independent mortgage banks and mortgage subsidiaries of chartered banks in the U.S. made an average profit of $711 on each loan they originated in 2017, down from $1,346 per loan in 2016. "Production profits dropped by almost half in 2017 as rate-term refinancing’s diminished and the overall average production volume dropped," said Marina Walsh, MBA's Vice President of Industry Analysis.