Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they originated in the fourth quarter of 2020, down from a reported gain of $5,535 per loan in the third quarter of 2020, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.
“Driven by strong borrower demand and a study-high in average loan balances, production volume for independent mortgage companies