Independent mortgage banks and mortgage subsidiaries of chartered banks were only able to squeeze out a paltry net gain of $493 on each loan they cranked out in the fourth quarter of 2015, a fraction of the $1,238 generated in the third quarter of 2015, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report. Proximity and correlation are not necessarily causation. But sometimes they are. In this case, TRID probably had something to do with the plunge. “Production profits dropped by over 60 percent in the fourth quarter of 2015 compared to the third quarter,” said Marina Walsh, MBA’s vice president of industry analysis. “With the Know Before You Owe (TRID) rule going into effect last Oct. 3 ...