Wednesday, 14 April 2021 | The Latest Buzz for the Appraisal Industry

Mortgage Profits Decline but Remain Close to Record Levels; Purchase Apps Improve; Rates Fall

Mortgage originators’ profits remained strong in the fourth quarter of 2020, although they were down considerably from the previous period. The Mortgage Bankers Association’s (MBA’s) Mortgage Bankers Performance Report says that independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they originated during the quarter. In Q3 their reported profits were $5,535 per loan. The average pre-tax production profit was 137 basis points (bps) on



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