Posted To: Pipeline Press

Time is flying, and the months click by. We’re approaching the Summer Solstice. (Here in Sitka, AK, the official sunrise is around 4AM and it sets around 10PM.) As a lender, did you add to your coffers in the first quarter? If not, or if you only broke even, perhaps it is time for a change. As expected, for most lender, their pipelines and margins rolled into 2021. Independent mortgage bankers made $3,361 on each loan in the first quarter of 2021, which was the best first quarter on record. In fact, net production profits reached their highest level for any first quarter since the inception of MBA’s report in 2008. To balance out that good news, available housing inventory continues to disappoint, especially in April, according to research by Zillow . Inventory fell 1.4% compared…(read more)

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Source: Mortgage News Daily