Profit-Per-Loan Hits Record High in 2020

first_imgHome / Daily Dose / Profit-Per-Loan Hits Record High in 2020 Data Provider Black Knight to Acquire Top of Mind 2 days ago Profit-Per-Loan Hits Record High in 2020 Sign up for DS News Daily April 13, 2021 635 Views The Mortgage Bankers Association (MBA) has reported that independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks made an average profit of $4,202 on each loan originated in 2020, a $1,470 increase per loan over 2019’s totals.”The year 2020 was a banner year for the mortgage industry, despite the COVID-19 global health crisis essentially shutting down the U.S. economy in March and forcing personnel into remote work environments,” said Marina Walsh, MBA’s Vice President of Industry Analysis. “A surge in housing and mortgage demand, record-low mortgage rates, and widening credit spreads translated into soaring net production profits that reached their highest levels since the inception of MBA’s annual report in 2008.”The Annual Mortgage Bankers Performance Report found that the average production volume was $4.5 billion (16,198 loans) per company in 2020, up from $2.7 billion (10,411 loans) per company in 2019. On a repeater company basis, average production volume was $4.4 billion (15,669 loans) in 2020, up from $2.5 billion (9,430 loans) in 2019. For the mortgage industry as whole, MBA estimates production volume at $3.83 trillion in 2020—the highest annual volume ever reported—up from $2.25 trillion in 2019.Profits on the production side compensated for the servicing losses. Including both production and servicing operations, 99% of the firms posted overall pre-tax net financial profits in 2020, compared to 92% of firms in 2019 and only 69% of firms in 2018.”In early 2021, we are already seeing declines in pipeline volume—particularly refinance volume—as mortgage rates have risen in the first quarter,” said Walsh. “Also, secondary marketing income has dropped from last year’s highs, as credit spreads have tightened. Mortgage companies that can adjust quickly to changing market conditions and are able to harness still robust purchase demand are best poised for a successful 2021.”Walsh noted that the driver of production profitability in 2020 was production revenue, led by strong secondary marketing gains. Historically, production expenses drop when volume increases, but per-loan production expenses rose in 2020, as companies offered signing bonuses, incentives, overtime, and other compensation to address capacity constraints and meet mortgage demand. Furthermore, rising loan balances meant large sales commissions, often earned based on a percentage of the loan amount.Click here for more on the MBA’s Annual Mortgage Bankers Performance Report. Annual Mortgage Bankers Performance Report independent mortgage banks (IMBs) Marina Walsh Mortgage Bankers Association (MBA) 2021-04-13 Eric C. Peck Previous: Affordable Housing-Related Reforms Worth Considering Next: Caliber Sold to New Residential for $1.7 Billion Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Eric C. Peck Tagged with: Annual Mortgage Bankers Performance Report independent mortgage banks (IMBs) Marina Walsh Mortgage Bankers Association (MBA) Related Articles in Daily Dose, Featured, Journal, Newscenter_img  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Servicers Navigate the Post-Pandemic World 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

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ZIENIUK, STANISLAW

first_imgOn February 6, 2018, surrounded by friends and loved ones at his son’s home, our Lord Jesus Christ called home his servant, Stanislaw Zieniuk. Stan, or Stosh, as he was known by his closest friends, was predeceased by his wife, Florence (nee: Bielanda) Zieniuk, his parents Anna and Aleksander Zieniuk, two brothers, Antonio (Tony) and Bronislaw (Benny) and granddaughter Katelyn. Stanley is survived by 4 sons Alex, Robert (Christina), Paul, and John (Angela), along with 10 grandchildren Rochelle, Zachary, Paul Joseph (P.J.), Kassandra, Victoria, Emily, Nicolas, Douglas, Alexa, and both grandson and friend, Jack Lance and his wife Danielle. Also survived by 16 great-grandchildren and many friends. Stanley is a graduate of both Bayonne High School and Seton Hall University. He served his country proudly in the United States Army during WWII. He was a member of the Catholic War Veterans Post 1612, the Knights of Columbus Council #371 and a Communicant and Eucharistic Minister at Our Lady of Mt. Carmel Church. He worked for and retired from The Chase Manhattan Bank of New York and The City of Bayonne Department of Public Works after many years of service. In lieu of flowers, the family asks donations be made in the name of Stanley’s deceased granddaughter, Katelyn Zieniuk, to the Cystic Fibrosis Foundation, 4550 Montgomery Avenue, Bethesda MD 20814 or at www.cff.org/Get-Involved/Donate/ or 1-800-FIGHT-CF. Funeral arrangements by S. FRYCZYNSKI & SON Funeral Home, 32-34 E. 22nd St.last_img read more

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A driver was pulled over with expired 1997 license plate tags

first_imgA Louisiana man was pulled over for an expired license plate that hadn’t been renewed since 1997. He told police he’s been too busy to renew his tags.A Slidell Police Department officer shared the story on their official Facebook page:When the officer asked the man why, the driver replied, “Sorry, officer. I’ve been busy lately and totally forgot to renew my vehicle registration. I will take care of it as soon as I get home,” police said.Louisiana drivers are required to renew their tags every two years.last_img

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Quick Kick…Ides of March

first_imgWILLIE COLON Caesar: “Who is it in the press that calls on me? I hear a tongue shriller than all the music cry “Caesar!” speak” Soothsayer: “Beware the ides of March.” Caesar:“What man is that?” Brutus: “A soothsayer bids you beware the ides of March.” (Julius Caesar Act 1, scene 2, 15–19) The Pittsburgh Steelers are getting ready, really ready to face the Kansas City Chiefs on the upcoming prime time stage called MNF or known to common folk as Monday Night Football. No, of course not; this is not anywhere near ‘the ides of March because turkeys will be crying in a shrill voice soon but please hear this. The Steelers have been guilty in the past of playing up or down the competition. However, I don’t think that this will be the case this time around; well at least as far as Steelers offensive lineman Willie Colon is concerned.“We are taking these guys very seriously” Colon says matter-of-factly. “Defensively and on paper they have a lot of first round guys. They are very athletic. This is one of those games that if you fall asleep you may find yourself in a hot dog fight. As far as us needing motivation their [the Chiefs] record doesn’t really show what we see watching them on tape. They can really get after guys.”Steelers’ running back Issac Redman echoed the sentiments of his colleague on offense. “These guys play us tough; they have for the past couple of years regardless of their record. We squeaked out a win last year we had about four turnovers and still only squeaked out a win 13-9. They’re turning the ball over at a high level right now but when they’re not turning the ball over they’re a tough team to beat. They showed that in the Baltimore [Ravens] game, but we aren’t the best right now at getting turnovers.”It is the opinion of a few prognosticators that the Steelers should have a slight advantage on offense based on the fact that their offensive coordinator Todd Haley is the former head coach of the Kansas City Chiefs. However, Redman doesn’t read too much into that scenario.“I don’t think that it’s a big advantage but he’s given us a few pointers on what a couple of the defensive guys like to do in regards to their strengths and weaknesses.” Ladies and gentlemen on paper or papyrus the KC Chiefs do not remotely appear as if they should even show up on Monday night but beware, beware; “the ides of November.” If the Steelers want to remain around the postseason hunt in the “not for long league” (NFL) they had better play lights out football every week regardless of who they may be facing and what their record is.(Aubrey Bruce can be reached at: [email protected] or 412-583-6741. Bruce can also be heard on the “Odd Couple Sports Show” where he is the AFC North and NFL analyst. The show is hosted by Adam Ragle streaming live on the WCWA Fox Sports Toledo 1230AM. Bruce is featured on Tuesdays from 10-11am during the NFL season. Listen to Aubrey’s archived “Odd Couple” segments on: www.worldspeakconnnection.com click on “Fair Catch.”)last_img read more

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Navigating Grief Shares the Top 10 Universal Truths, Influences on Grief

first_imgJoan Hitchens, long-time Olympia resident and life coach, helps people move forward from grief.The bleak and lonesome landscape you inhabit when you’ve lost someone you love is intensely personal.  However, despite the individual differences in everyone’s situations, navigating life after a loss has many universal truths as well.  Knowing that others are experiencing the same thing somehow makes us feel “normal” in a time that is anything but.Navigating Grief founder Joan Hitchens shares her list of things that are common to most grief experiences and the things that are unique to each individual, influencing their journey through their time of loss.Top 10 Universal Truths about Grief1. Grief is a normal response when someone you love dies. Even the anguishing ‘I can’t breathe.  Will I ever survive?’ feeling.2. There will be good days and bad days. The roller coaster is a real phenomenon.3. Someone will say something to offend you (usually unknowingly) or just say nothing at all.4. Anticipating landmark dates is almost always more difficult than the day itself.5. Exhaustion and desire to sleep will wax and wane; insomnia is very common, too.6. You will tell your story multiple times as part of actively grieving.7. You learn who true friends are and what friendship means to you.8. Crying or choking up unexpectedly is to be expected.9. Time is subjective.10. You will look for signs to connect with your loved one after the loss.Bonus universal grief: Brain fog and memory lapses are real and may continue longer than you expect. Facebook39Tweet0Pin0 Because loss is individual you are the expert on your grief.Top 10 Individual Influences on your Grief1. The circumstances of loss, such as sudden or foreseeable, violent or peaceful, impact your grieving.2. The words you tell yourself about the loss.3. Your sense of responsibility for the circumstances of the death.4. The relationship you had with the one you lost.  It can range from loving to toxic.5. Who you surround yourself with for support, and things they say to you. Seek out good listeners!6. How you care for yourself, responding to the effects of grief on your physical well-being.7. The things you do to preserve, honor and remember your loved one starting from day one, lasting for years.8. Your daily physical proximity to the one you lost.  Grief differs when a loved one lived across the country versus in your own house.9. Your role in the person’s life and you in theirs.10. Your attention to the grief process. Mindfulness counts. This ranges from becoming overly-busy to long-term stagnation.Bonus influence: Your history with death, including what you learned early in life and the number of losses you have experienced.For more thoughts from Joan Hitchens related to the universality of the grieving process, see her article, “Is My Grief Normal?”last_img read more

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