Volume 18 - Number 25
December 12, 2014
Mortgage Banking Profit Down Slightly in 3Q14
Mortgage banking profitability declined in the third quarter despite an uptick in net income on servicing, according to the Mortgage Bankers Association’s latest performance report. Average firm pretax income declined by 9.6 percent, from $1.58 million in the second quarter to $1.43 million in the third, the MBA reported. The group’s quarterly report includes lenders of all types and sizes but has a significant number of smaller independent mortgage companies. Some 82.9 percent of lenders turned a profit ...
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