“Volume picked up during the spring homebuying season and additional personnel were shed. However, the substantial cost savings per loan was not enough to put the average net production income in the black,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.
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With IMBs reporting an overall net loss of $82 on each loan they originated in Q2, one analyst notes that “the second quarter of 2022 did not yield the usual Spring seasonal pick-up in purchase activity."
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The Mortgage Bankers Association (MBA) reported today in its quarterly Mortgage Bankers Performance Report that independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,447 on each loan they originated in Q1 2015, a sizable increase from a reported gain of $744 per loan in the Q4 2014.
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