LO Profit Margins Move Up

Originationnews reports the Mortgage Bankers Association (MBA) states origination profits per loan rose 15 percent in the third quarter over Q2, 2012 to $2,465 for each loan. The study zeroes in on small, independent mortgage banking firms, not any of the mega-banks. While costs have increased slightly, Bob Garrett of First Tennessee Bank says, “Mortgage bankers are doing very well right now. Everyone is having a great year.” As MHProNews has learned, of the lenders MBA surveyed, 97 percent had pretax profits in the third quarter as opposed to 95 percent with pretax profits in Q2 2012.

(Image credit: HousingWire)

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