Mortgage Bankers' Per-Loan Profit Jumps 51%
http://www.dsnews.com/articles/mortgage-bankers-per-loan-profit-jumps-51-2010-09-15
The increase was driven by a rise in the average production volume for each firm to $196.6 million in the second quarter of 2010, compared to $157.8 million in the first quarter of 2010, as more loans for home purchases were written thanks to the federal government's tax credit incentive.
"The significant rise in loan origination volume during the second quarter reflects the surge in first-time homebuyers seeking to take advantage of the tax credit before the deadline expired," said Marina Walsh, MBA's associate VP of industry analysis.
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