Two acquisitive mortgage bankers see first-quarter profits fall

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Rising interest rates become double-edged sword for mortgage-banker profits. drastically up from a gain of $825 per loan in the first quarter of 2016..

First-quarter year-over-year results declined at a pair of mortgage bankers active in the acquisitions market as well as at the provider of the most used servicing technology. Mr. Cooper lost $186 million in the first quarter, as it took a mark-to-market hit on the fair value of its mortgage servicing portfolio of $293 million.

Annual Mortgage Bank Profits Fall by Nearly Half. The year started out with a net gain of only $224 in the first quarter but recovered in the second quarter to $1,122 as a reprieve from rising.

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"Servicing profits in 2006 partially offset production losses, but even these profits declined from 2005 levels due to mortgage servicing hedge losses," Walsh said. The 189 mortgage banking companies in the sample originated an estimated 54 percent of total residential industry volume in 2006 and serviced an estimated 48 percent of home.

Independent Mortgage Bankers Profits in U.S. Increase in Q2. – According to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report, independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,522 on each loan they originated in the second quarter of 2015, up from a reported gain of $1,447 per loan in the first quarter of 2015.

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"Delinquency rates and the percentage of loans in foreclosure continued to fall in the first quarter and are now at their lowest levels since 2007," said Joel Kan, MBA’s Associate Vice President of Industry Surveys and Forecasting. "The job market continues to grow, and this is the most important fundamental improving mortgage performance.

If the forecasts prove accurate, it would be the first quarter since the post-recession recovery began in 2009 that corporate earnings fall. It stands to reason. Costco 7 a.m. Mortgage Bankers.

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