What Did Top Performing Mortgage Bankers Earn in 2009?

Posted To: The Garrett Watts Report

Audited financials are starting to come in, and they’re confirming what we saw all year. Top performing mortgage bankers made 90-100 bps per loan. That means, for every $100 million you closed, you should have (and could have) earned $900,000 to $1 million. If you didn’t make this much, you need to look carefully at why you didn’t. Or call us for a FOCIS-plus diagnostic to see what you can do to boost earnings per loan. The top quintile of companies we worked with over the year made over 100 bps per loan, with the top performer making 121 bps. For every $100 million they closed, they made $1.21 million. What most mortgage company Boards are somewhat clueless about is their earnings broken down into bps per loan. We see companies that did, say, $1 billion last year and earned...(read more)

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