Mortgage bankers reported significant gains in profitability during the third quarter of 2011 as strong secondary market margins more than offset losses on the servicing side. The average mortgage banker earned $7.33 billion in gross income during the third quarter, up 24.3 percent from the previous period, according to the Mortgage Bankers Association’s latest quarterly performance report. Average pre-tax income was up a more robust 147.9 percent from the second quarter to $1.12 million, while average net income after adjustments surged 122.2 percent, the MBA data show. Through the first nine...