Items Tagged with 'independent mortgage bankers'

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Despite relief, independent mortgage bankers say Financial CHOICE Act still needs work

"One additional provision is needed"
The Financial CHOICE Act that recently passed the House Financial Services Committee provides regulatory relief for independent mortgage bankers. But one additional provision is needed to ensure that small IMBs are treated the same as banks are under the bill. Why can’t independent mortgage bankers have the same exemptions as other banks?
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Independent mortgage bankers see increased profits in 2015

Profits are up for the year, despite losses in 4Q
Despite losses throughout the second half of the year due to increased TRID regulations, the Mortgage Bankers Association reports an increase in profits for 2015. The stronger start at the beginning of the year helped keep profits up from 2014 and offset the impacts of TRID.
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Freddie Mac announces partnership with The Mortgage Collaborative

GSE to offer benefits to mortgage lending cooperative’s members
Freddie Mac announced a partnership with The Mortgage Collaborative, an independent mortgage lending network of small, mid-sized and community-based lenders, that will help the group’s members build better businesses and compete more effectively in today's dynamic mortgage market.
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Mortgage banker expenses continue to rise

MBA: 1Q costs second highest since 2008

According to a chart by the Mortgage Bankers Association, in the first quarter of 2015, total quarterly production expenses averaged $7,195 per loan, 311 basis points, among independent mortgage bankers and bank subsidiaries.


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Independent mortgage bank profits surge nearly 100%

But total production operating expenses rise too
Independent mortgage banks recorded a net gain of $1,447 on each loan they originated in the first quarter of 2015, which is double the previous quarter. However, it wasn’t the only variable to increase. Expenses are starting to rise, too.
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