Keller Mortgage Joins Layoff Wave Keller Williams has laid off an unspecified number of people at its lending business, Keller Mortgage, following job cuts at several other mortgage lenders. So reports The Real Deal.

Estimated reading time: 0 minutes, 33 seconds

Mortgage Bankers’ Per-Loan Profits Tumbled 44% in 2021

Mortgage bankers’ profitability on each loan fell a whopping 44% last year, an annual report by the Mortgage Bankers Association (MBA) finds.

arrow 24112 640 smallAfter a record $4,202 per loan in 2020, independent mortgage banks and mortgage subsidiaries of chartered banks averaged a profit of $2,339 on each loan they originated in 2021, according to the MBA.

“Performance in the second half of 2021 declined relative to the first half of the year, which is an indication of where market conditions are heading in 2022 in an environment of high expenses, rising mortgage rates, and lower refinance originations,” Marina Walsh, MBA’s vice president of industry analysis, said in a statement. 

Read the full press release from the MBA.

Read 246 times
Rate this item
(0 votes)

FOLLOW US

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.