As waning refinances negatively impacted overall single-family loan originations, quarterly production profits at independent home lenders sank.

Net production income at independent mortgage banks and mortgage subsidiaries of chartered banks was 12 basis points in the fourth-quarter 2017.

Earnings plunged from 42 BPS the prior period and sank compared to the same-three months during 2016, when income worked out to 24 BPS.

Source: Mortgage Daily