Estimated reading time: 0 minutes, 33 seconds

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.

Read 1223 times
Rate this item
(0 votes)
More in this category: « Mortgage Lenders View Blockchain Warily: Survey 'Paypal for Mortgage' Tomo Raises $40M to Speed Homebuying »

FOLLOW US

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.
Ok Decline