Mortgage Production Profits Up on Employee Expense

As quarterly loan originations increased, independent mortgage bankers cut their per-loan employee expenses and doubled the bottom line.

Total net production income at independent U.S. residential lenders averaged 73 basis points during the three months that ended on June 30.

Earnings more than doubled from the first quarter, when net income was 36 BPS, and was also up from 67 BPS in the second-quarter 2015.

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From:: Financing