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March 4, 2014

Richey May: Mortgage Profits Plunged in Fourth Quarter

By Paul Muolo

Roughly 96 percent of mortgage bankers earned money in the third quarter. But that wasn't the case in 4Q, according to Richey May & Co.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results