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Mortgage Bank Profits Tumbled in Q4: MBA

Friday, Mar 25 2022
Originating
Written by  The Mortgage Leader

Mortgage banks saw their profitability per loan tumble in the fourth quarter of 2021 to the slimmest gain since a year before the pandemic hit. That’s according to a new report from the Mortgage Bankers Association.

arrow 24112 640 smallIndependent mortgage banks and mortgage subsidiaries of chartered banks posted a net gain of $1,099 on each loan they originated in the fourth quarter, down from $2,594 in the third quarter, according to the MBA’s Quarterly Mortgage Bankers Performance Report.

“After a two-year run of above-average profitability, pre-tax net production income per loan reached its lowest level since the first quarter of 2019," Marina Walsh, MBA’s vice president of industry analysis, said in a statement.

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