Default debt lingers for refinanced mortgages … Motorist dies in fiery Bay Bridge crash; Brown says $1.8M home part of frugality message
Brought to you by for Todays Mortgage News
Original post by Patrick McGee
Brought to you by for Todays Mortgage NewsPosted To: MND NewsWire
Independent mortgage bankers and subsidiaries had a dramatically better year in 2009 than the one they had endured in 2008. According to the Mortgage Bankers Association (MBA)'s Annual 2009 Mortgage Bankers Production Survey released on Wednesday, profits on the average loan originated last year rose to $1,135 from a dismal $305 in 2008. The increase was the result of lower production costs driven by a higher volume of loans, especially for refinancing. Production expenses declined to $3,685 per loan last year from 4,717 in 2008 while production income dropped to $4,820 from $5023. The average profit was 61.3 basis points compared to 15.4 basis points in 2008 . Mortgage subsidiaries of banks and thrifts did much better than independent mortgage originators , averaging 79.5 basis points…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Brought to [...]
Original post by Jann Swanson
Brought to you by for Todays Mortgage News(06-30) 10:44 PDT , (AP) — HOME LOAN APPLICATIONS UP: The number of borrowers applying for home loans last week grew by nearly 9 percent from the previous week, according to the …
Brought to you by for Todays Mortgage News
Original post by Jann Swanson
Brought to you by for Todays Mortgage News