JPMorgan Chase's net mortgage banking revenue for the fourth quarter was $1.69 billion, an increase of just 1% over the
Net production revenue was $183 million, an increase of 49% over the fourth quarter of 2015, but net mortgage servicing revenue was down 24% from the prior year period to $327 million.
Origination volume was $29.1 billion, up 29% from $22.5 billion in the fourth quarter of 2015. Mortgage loans serviced for other investors ended 2016 at $591.5 billion, down from $674 billion on Dec. 31, 2015.
The loan production numbers at both Chase and Wells Fargo (which also
Chase's gain-on-sale margin fell to 63 basis points from 91 bps one year prior. The expectation is that across the board, mortgage lenders will be reporting lower gain-on-sale margins for the period, KBW said.