Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $1,099 on each loan they originated in the fourth quarter of 2021, down from a reported gain of $2,594 per loan in the third quarter of 2021, according to the Mortgage Bankers Association‘s (MBA) newly released Quarterly Mortgage Bankers Performance Report.
“Production margins tightened substantially in the fourth quarter of 2021. After a two-year run of above-average profitability, pre-tax
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