Mortgage banks had what the Mortgage Bankers Association (MBA) termed “respectable” production profits in 2013, even though they were dramatically lower than in 2012 and declined precipitously from the first half of 2013 to the second. MBA’s Annual Mortgage Bankers Performance Report said that banks responding to its survey posted average per loan profits of $1,252 in 2013 compared to $2,199 per loan originated in 2012. Of the 242 firms that reported production, 73 percent were independent mortgage companies; the remaining 27 percent were subsidiaries of chartered banks and other non-depository institutions.