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Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

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Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Contact Us

Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Contact Us

Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

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Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232
Mortgage

Rising Costs to Originate

Articles by: Richey May, Mar 18, 2015

March 2015

Costs to originate, and in particular fulfillment costs, have been on the rise since 2012. Variability in production volumes, which at times has resulted in excess capacity, has contributed to at least a portion of the increase in costs on a per-loan basis, but does not account for the entire $400 increase in costs to originate over the last three years.  Regulatory compliance has played a significant role in the overall increase and has impacted processor and underwriter productivity levels.

 

Fulfillment costs include those related to processing, underwriting, and closing.  Back office costs include those related to secondary marketing, post-closing, QC, compliance and other corporate personnel.

 

Loans per month is calculated by dividing the total number of funded loans by the number of full-time equivalents within each functional area.

 

This data comes from Richey May Select, the “next-generation” in peer-to-peer metrics. Richey May Select compiles quarterly financial and operational metrics from independent mortgage lenders across the United States. For more information about participating in this valuable tool, please visit the Richey May Select page and Request More Info.

Click here to see the full .pdf with illustrations.