Independent mortgage banking firms made an average profit of $575 per origination in the second quarter, a 66% gain from the first quarter — but a significant decline from two years ago when the average gain was $1,358.
According to figures compiled by the Mortgage Bankers Association, these independents (nonbanks and affiliates of depositories) posted average loan production of $174 million in the second quarter compared with $164 million in the previous quarter.