Independent mortgage banking firms' origination profits rose 28%, to $1,358 per loan, in the second quarter thanks to rising loan volumes, in particular a swell in refinancings.

According to a study released Monday by the Mortgage Bankers Association, 96% of the 292 lenders surveyed posted a pretax profit for the second quarter, compared with 85% in the first quarter and just 53% in the fourth quarter.

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