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According to the Mortgage Bankers Association, independent mortgage banks and chartered banks’ mortgage subsidiaries posted a net gain of $4,548 per loan originated in the second quarter of this year, compared with $1,600 the prior quarter.
“Fueled by a surge in borrower demand and record-low mortgage rates, mortgage production profits in the second quarter reached the highest level since the inception of MBA’s report in 2008," said Marina Walsh, MBA’s vice president of industry analysis, according to the article.
