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Sign into your accountThe Role of Mortgage on Broker Dollar
December 18 2012
Only the largest brokerages in a given region provide loan solutions through joint ventures or wholly owned mortgage companies. This provides these companies with a distinct advantage in many areas of providing a full array of consumer services around home ownership. For these companies, it is a generous source of additional revenue and the consumer loves the convenience.
The Mortgage Bankers Association reported that independent mortgage banks earned between $2150 and $2450 profit per loan in 2012.
The average production profit in basis points ranged between 107 and 120.
The average production was between 1700 and 2000 loans per quarter.
The total loan production expense (commissions, compensation, rent, equipment, and other expenses) averages just over $5100 per loan. About $3300 is personnel expense.