The annual mortgage bankers production survey indicated an average profit of $1,135 per loan originated by independent mortgage bankers and subsidiaries in 2009, an increase from $305 per loan in 2008, the Mortgage Bankers Association (MBA) reported today.

Profits rose as a result of a decrease in aggregate loan production expenses to $3,685 per loan in 2009 from $4,717 per loan in 2008. Total loan production income in 2009 dropped slightly to $4,820 per loan, from $5,023 the previous year.

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