Independent mortgage bank profits surge nearly 100%

Your mortgage has been securitized win with an audit  · Independent mortgage banks saw their loans turn profitable in the second quarter after suffering losses of nearly $200 per loan during the prior quarter, according to a recent mortgage bankers association (mba) report. independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $954 on each loan they originated in the [.]

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 · But the big obstacle to profitability for independent mortgage banks remains the cost to originate or acquire a loan. The MBA reports that total loan production expenses – commissions, compensation, occupancy, equipment, and other production expenses and corporate allocations – increased to $8,278 per loan in 2018, up from $8,082 in 2017.

Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of chartered banks, according to the Mortgage Bankers Association. The grouping averaged a yield of $367 per origination in 2018, down from 2017’s $711. The fourth quarter’s net losses dragged that number down.

$1.2 billion Fannie, Ginnie bulk MSR portfolio for sale In a series of performing and non-performing MSR sales, we sold approximately $87.6 billion of UPB of MSRs, generating cumulative gains of $83.9 million and cash proceeds of $1.2 billion, $686.8 million of which was from sales proceeds and $486.3 million of which was via the recovery of advances.

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