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Volume 22 - Number 18

August 31, 2018

Nonbanks Return to Origination Profitability

After losing an average of $118 per loan originated in the first quarter of 2018, nonbanks made some adjustments and turned profits in the second quarter, according to a survey from the Mortgage Bankers Association. Some 343 nonbanks reported a net gain of $580 on each loan they originated in 2Q18. After an exceptionally weak start to the year, production profitability improved in the second quarter as volume picked up from the spring home buying season,” said Marina Walsh ...

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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