Volume 18 - Number 5
March 7, 2014
OCC Warns of Volatility in Mortgage Profits
In new guidance to examiners and bankers, the Office of the Comptroller of the Currency is stressing the risks posed by mortgage banking, particularly for banks that rely heavily on the mortgage industry to turn a profit. “A mortgage banking operation’s income and expense components can change at significantly different rates and in different directions over time, resulting in substantial shifts in profitability,” the OCC said in its new handbook on mortgage banking ...
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