Chase would not reveal what it makes on loan originations, but did say it processed $145.6 billion in all mortages types in 2011, $38.6 billion of which was in the fourth quarter.

According to Mortgage Bankers Association data independent mortgage banks and subsidiaries made an average profit of $1,263 on each loan they originated in the third quarter of 2011. (The MBA data does not include big banks.)

Analysts say the banks want to look like they are helping to ease both the credit crunch and housing malaise, having been under pressure from the Obama administration, memebrs of Congress and consumer groups to do more in the wake of the financial crisis.

“Companies are working hard to improve their reputation,” says Paul Leonard, vice president for government affairs of the Housing Policy Council of the Financial Services Roundtable, a powerful lenders trade group.

Though millions of Americans have refinanced once, twice, or even more, during the enormous decline in interest rates that started in late 2007, millions of others have been unable to do so.

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