Banks Turn Record Profits on Mortgage Banking Activity in 2Q09 Refinance Boom
September 18, 2009
Commercial banks reported $6.422 billion in net income from their mortgage banking activities during the second quarter of 2009, by far the most profitable period since the industry began including these data on bank call reports. That represented a huge 64 percent jump from the first three months of the year, when banks reported a combined $3.929 billion in...[Includes one chart and one graph]