The direct cost to originate a mortgage in 1995 - $2,000 - was almost unchanged from 1994, according to KPMG Peat Marwick's sixth annual mortgage production performance study.

The average number of loans closed per employee in 1995 was 45, up from 42 in 1994. In 1995, revenue for all channels on an average loan totaled 95 basis points, down 26%.

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