Mortgage Banker Production Profits Narrow Further in Q1 2010

Profit margins for independent mortgage bankers and subsidiaries continued to fall in the first quarter of this year, as production volume declined and production operating expenses rose, the Mortgage Bankers Association (MBA) reported Tuesday. According to MBA's quarterly survey, independent mortgage bankers and subsidiaries made an average profit of $606 on each loan they originated in Q1, down from $890 per loan in the fourth quarter of 2009 and substantially lower than the $1,088 average profit recorded one year ago.



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