Production profits slump as origination volumes decrease

Mortgage

Mortgage lenders have already begun to feel the burn of higher interest rates.

The net gain per loan originated for independent mortgage banks and mortgage subsidiaries of chartered banks dropped to $575 in the fourth quarter from $1,773 the previous quarter, the Mortgage Bankers Association found in its Quarterly Mortgage Bankers Performance Report. The figure was up slightly year over year from $493 in the fourth quarter of 2015.

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