Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $2,465 on each loan they originated in the third quarter of 2012, up from $2,152 per loan in the second quarter, as reported by the Mortgage Bankers Association (MBA). Seventy percent of the 311 companies that reported production data for the third quarter report were independent mortgage companies. “Both purchase volume and refinancing volume increased in the third

Read more »