Posted To: Pipeline Press
Did your company make any money in the 3rd quarter? I hope so, and I hope the 4th quarter is looking bright as well. (Just like I hope that MLOs on your staff are funding lots of loans, because if they aren’t, time to train them or let them excel elsewhere.) A couple weeks ago the MBA released its Mortgage Bankers Performance Report with the attention-grabbing headline, “IMB Profits Rise to Near Seven-Year High in Third Quarter of 2019.” Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks that provide their information to the MBA reported a net gain of $1,924 on each loan they originated, up from $1,675 per loan in the second quarter of 2019. According to the illustrious Marina Walsh, MBA’s VP of Industry Analysis, the increase in profits was…(read more)
Source: Mortgage News Daily
