Independent mortgage banking firms saw their origination profits increase 28% to $1,358 per loan in the second quarter thanks to rising loan volumes, in particular a swell in refinancings.

According to a new study by the Mortgage Bankers Association (MBA), 96% of the 292 lenders surveyed posted a pre-tax profit in 2Q compared to 85% in 1Q and just 53% in four quarter.

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