in News > Residential Mortgage
print the content item


Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $2,465 on each loan they originated in the third quarter, up from $2,152 per loan in the second quarter, according to new data from the Mortgage Bankers Association (MBA).

Average production volume was $450 million per company in the third quarter, up from $371 million per company in the second quarter. The average volume by count per company rose to 2,010 loans in the third quarter, from 1,700 in the second quarter.

The refinancing share of total originations, by dollar volume, was 57% in the third quarter, up from 52% in the second quarter. For the mortgage industry as whole, MBA estimates the refinancing share at 73% in the third quarter of 2012, up from 67% in the second quarter.

"Both purchase volume and refinancing volume increased in the third quarter, resulting in higher net production profits among independent mortgage bankers," said MBA Associate Vice President of Industry Analysis Marina Walsh. "Secondary marketing gains improved by 14 basis points over the second quarter. However, per loan expenses remained flat despite higher volumes."


Interthinx has Your Blueprint for Quality_1375


Latest Top Stories

Uniting For Quality Appraisals

How AMCs and appraisers are collaborating to ensure accurate, quality property valuations.


Five Things Servicers Can Do Now To Improve Customer Satisfaction

It's a worthy goal, not just because it will satisfy regulators but also because it can yield measurable savings for the servicer's contact center.


Fannie, Freddie Lower Down Payment Requirements

The GSEs are now accepting conventional mortgages with a down payment of as little as 3%.


Zillow: First-Time Home Buyers Will Lead Recovery In 2015

Stan Humphries, chief economist for Zillow, says he expects "the allure of fixed mortgage payments and a more stable housing market will entice many more otherwise content renters into the housing market."


New Home Sales Rose Slightly In October

It was the fifth consecutive month that the U.S. Census Bureau and U.S. Department of Housing and Urban Development downwardly revised the previous month's new home sales estimate.

Urban Lending_id1351
Hse SandyHook
Industry Resource
Orb Mobile
SWBC_id1313
MBA-TX_id