While most of us couldn’t wait for 2020 to be over, it turns
out to have been a superlative year for mortgage originators. The Mortgage
Bankers Association’s (MBA’s) annual Mortgage Bankers Performance Report shows
the profit independent mortgage
banks and mortgage subsidiaries of chartered banks made on each loan they
originated was nearly three times their profit in 2019. Bankers made an average of $4,202 on each loan originated in
2020, up from $1,470 in 2019. While servicing profits were down, production
profits more than compensated. Ninety-nine percent of the firms posted overall
pre-tax net financial profits in 2020, compared to 92 percent in 2019 and only
69 percent in 2018.

 

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