While efficiency improved in both originations and servicing last year, only the production segment saw an improvement in profits.
The average sales person at an independent mortgage banker closed
5.7 loans per month in 2015 on a weighted-average basis.
Closings were more productive
than during all of 2014, a year that saw just 4.6 mortgages closed per sales employee each month.
The Mortgage Bankers Association provided those statistics along with 86 pages of other details in its Annual Mortgage Bankers Performance Report 2015.
While there were 276 companies that participated in the latest production report and 259 for the 2014 report, just the 210 that participated both years were used for year-over-year comparisons.
Mortgage bankers earned an average of 40 basis points in origination fees on 2015’s production. Average origination fees diminished from 52 BPS a year earlier.
Net production income rose, however, to 58 BPS from 33 BPS in 2014.
Of the 160 servicers that participated in last year’s survey and 164 that contributed to the 2014 survey, 117 participated both years and were the source of comparisons for the servicing portion of the report.
An average of 1,166 loans were serviced per full-time employee as of 2015. Efficiency improved from the previous year, when just 931 loans were serviced per employee.
Servicers earned 3.57 BPS in total net financial income on each loan serviced in the most-recent annual period.
Earnings deteriorated from 4.23 BPS during all of 2014.
