For the fiscal year ending Sept. 30, 2018, MBA took in $65.1 million of revenue versus expenses of $54.4 million, according to a newly released tax filing. Roughly half of its annual revenue comes from its hugely popular annual convention.
Mortgage lenders posted a net gain of $1,675 per origination in the second quarter, the best quarter the industry has seen since the third quarter of 2016, the Mortgage Bankers Association said in a recent report.
Mortgage banking income was up in the second quarter but didn’t keep pace with big increases in loan origination volume and secondary market sales. Wells Fargo accounted for the lion’s share of the increased profitability.
Seven publicly held nonbanks reported a combined loss of $47.8 million on their mortgage banking operations in the second quarter as interest rate volatility hammered their servicing books.
Among publicly traded mortgage shops, Lending Tree CEO Doug Lebda took home the most bacon last year: $42.3 million in total compensation. But what do CEOs at private firms earn? The answer is not simple.
Falling interest rates are sometimes a bad thing — case in point is Mr. Cooper and negative MSR marks. Also, it’s been somewhat quiet on the M&A front but perhaps a change is in the wind.
Quicken stands out among nonbanks rated by Moody's Investors Service. The rating service said Quicken's earnings potential is among the highest in the group.
Most of the gain in production income occurred at JPMorgan Chase, which reversed an unusual loss in the fourth quarter. Wells Fargo accounts for most of the increase in servicing profits.
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