My boss told me that I should take an “anger management” class in 2010. I told her that I was already angry enough with management.

How much money are mortgage bankers, including management, making? According to the MBAA, average profit per loan is up nicely versus the first quarter moving to over $1,300 on each loan originated in the second quarter. In addition, production volumes were up and average pull through went from 67% up to 73%! Check out: http://www.mortgagebankers.org/NewsandMedia/PressCenter/70813.htm

Although the death of the mortgage banker and broker is greatly exaggerated, a good share of their business has gone elsewhere. Community banks have seen their relative volumes increase, and some believe that they are well qualified to fill the void left by mortgage brokers. These banks are chartered to serve their local markets; their boards are typically influential in the market place, most have adequate capital and can fund their own loans, they have access to seasoned talent pool, inexpensive technology and are not over burdened by regulatory pressure. And many are entering the warehouse business. And what happens to the bulk of their production?They sell many loans to the usual suspects: Wells, BofA, Citi, Chase, etc.

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Rob