TPO and Warehouse Products; Training Events; MBA Shows Decrease in Volume, Profits

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Posted To: Pipeline Press

The MBA tells us that both volume and profits were down in 2017. “ Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $711 on each loan they originated in 2017 , down from $1,346 per loan in 2016.” Production expenses grew in all categories: sales, fulfillment, production support and corporate. Keep that in mind the next time anyone questions pricing, asks for a free extension, or wants .250 knocked off the price of that $300k loan to match the guy up the street. Trainings and Events Todd Duncan is hosting his High Trust Sales Academy mortgage training event May 8th-11th in Newport Beach, California. He’s been teaching this event for 26 years and over 12,000 loan officers have successfully completed the training. The event is…(read more)

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