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Volume 18 - Number 12

June 13, 2014

First Quarter 2014 Losses Distributed Unevenly

The bloodbath in mortgage-production losses during the first quarter of 2014 did not occur uniformly across the industry and appears to be related to the failure of many companies to downsize quickly enough, new Mortgage Bankers Association data suggest. Average pretax income as a percentage of equity was -3.15 percent during the first quarter, the MBA said in its Quarterly Mortgage Bankers Performance report. That was the first negative profit margin since ...

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.

47%

Yes, by a lot.

5%

Yes and, heck, we may even do non-QM lending.

14%

No, not at all.

26%

No and we may even tighten credit.

7%