Smaller Mortgage Banks Struggled For Profitability in 2008, MBA Finds
August 21, 2009
Mortgage bankers generally saw declining profits in 2008, but smaller companies appeared to bear more of the burden, according to a study released this week by the Mortgage Bankers Association. On average, the 297 companies participating in the trade association’s annual performance analysis reported $656,000 in pre-tax net income last year. That was down from $923,000 in 2007 and...