Independent mortgage banks and mortgage subsidiaries of chartered banks saw an average per-loan profit of $3,738 in the fourth quarter of last year, a nearly one-third drop from the third quarter, according to data from the Mortgage Bankers Association. So reports Asset Securitization Report.
The quarter-over-quarter decline in housing finance profitability was the first since the start of the coronavirus pandemic.
Fourth-quarter profitability was still the third-highest on record, topped only by the two preceding quarters.
Read the full article from Asset Securitization Report.
Source: themortgageleader.com