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Mortgage Profits Surge; Awesomely Flat Rates; What’s Hurting Homeownership?

Mortgage Profits Surge; Awesomely Flat Rates; What’s Hurting Homeownership?

The financial situation for mortgage lenders brightened considerably in the first quarter of this year, although profitability is way down from post-recession peaks. The Mortgage Bankers Association (MBA) said the average gain on each loan originated by the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks responding to its survey was $285. In the fourth quarter of 2018 each loan originated resulted in a $200 loss and across the entire year the average per-loan profit was $367. Including all business lines (both production and servicing), 59 percent of the firms in the study posted pre-tax net financial profits in the first quarter, up from 44 percent in the fourth quarter. "Independent mortgage bankers experienced improvements in the first three months of the year
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