US DATA: Independent mortgage bankers and subsidiaries made an
average profit of $917 on each loan they originated in the second
quarter of 2010, up from $606 per loan in the first quarter of 2010,
according to the Mortgage Bankers Association (MBA)’s 2nd Quarter 2010
Mortgage Bankers Performance Report released today. The increase was
driven by a rise in the average production volume for each firm to
$196.6 million in the second quarter of 2010, compared to $157.8 million
in the first quarter of 2010. As a result, production operating expenses
decreased to $4,677 per loan in the second quarter of 2010, from $5,147
per loan in the first quarter of 2010.