Mortgage bankers reported a net gain of $1,238 per loan in the third quarter – down from $1,522 in the second quarter but up from $897 in the third quarter of 2014, according to the Mortgage Bankers Association's (MBA) Quarterly Mortgage Bankers Performance Report.
Average production volume reached about $614 million per company – down from the study high of $657 million per company in the second quarter but up significantly compared with $437 million in the third quarter of 2014.
Purchase volume among MBA member lenders reached 70% in the third quarter compared with 62% in the second quarter. For the mortgage industry as a whole, the MBA estimates that the purchase share for the third quarter was about 63%.
The volume by count per company averaged 2,609 loans in the third quarter – down from the study high of 2,714 loans in the second quarter. Despite this decrease, the third-quarter average production volume in both dollar and count was the second highest reported since the inception of the Performance Report in the third quarter of 2008, the MBA reports.
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