Mortgage Lending Profitable in 2015 Despite Weaker 2nd Half

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Posted To: MND NewsWire

Year-end figures released on Tuesday by the Mortgage Bankers Association (MBA) shows that profits in at least one sector of mortgage lending increased substantially in 2015 compared to 2014. Those profits, however trended down as the year wore on. According to MBA’s Annual Mortgage Bankers Performance Report , independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,189 on each loan they originated in 2015, up from $747 per loan in 2014. Ninety-two percent of firms responding to the MBA survey posted pre-tax net profits in 2015, including all business lines while 82 percent reported such profits in 2014. However, in the first half of 2015 93 percent reported profits while only 83 percent did so in the second half of the year. The average production…(read more)

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