IMBs Post Another Strong Quarter

Independent mortgage banks and mortgage subsidiaries of charter banks again saw strong business in the fourth quarter of 2020 – but smaller revenues on each loan they handled, according to a new Mortgage Bankers Association released Tuesday. IMBs reported a net gain of $3,737 on each loan they originated in the quarter – down from a $5,535 in the third quarter, the Quarterly Mortgage Bankers Performance Report showed. The report also found: The average pre-tax production profit was 137 basis points in the quarter, down from an average net production profit of 203 bps in the third quarter, but up on a year-over-year basis from 46 basis points in the fourth quarter of 2019.Average production volume was $1.47 billion per…

IMB Mortgage Production Profits Jump In Q2

It was a big quarter for independent mortgage banks and mortgage subsidiaries of chartered banks. IMBs and subsidiaries reported a net gain of $4,548 on each loan they originated in the second quarter – up from a $1,600 per loan in the first quarter of the year, according to a report released by the Mortgage Bankers Association. “Fueled by a surge in borrower demand and record-low mortgage rates, mortgage production profits in the second quarter reached the highest level since the inception of MBA’s report in 2008,” said Marina Walsh, MBA’s Vice President of Industry Analysis. “Production volume averaged over $1 billion per company, and there was an ideal combination of higher revenues and lower costs.” The report also found:…

IMBs Report Strong First Quarter

Independent mortgage banks reported strong results on loans in the first quarter of the year even in the face of a reduction in volume as the coronavirus pandemic took hold in March, the Mortgage Bankers Association reported Thursday IMBs and mortgage subsidiaries of charted banks reported a net gain of $1,600 on each loan they originated in the quarter – up from $1,182 per loan in the fourth quarter of 2019, according to MBA’s Quarterly Mortgage Bankers Performance Report. “Mortgage production profits were strong in the first three months of 2020 – despite a decline in production volume from the fourth quarter and March’s severe market volatility sparked by the COVID-19 pandemic,” said Marina Walsh, MBA’s Vice President of Industry…