Mortgage Banking Profits Tumbled In 3Q13 as Loan Originations Slump
October 25, 2013
Banks of all sizes reported sharp declines in their mortgage banking earnings during the third quarter of 2013, according to a new analysis by Inside Mortgage Trends. The refrain from bank management was virtually unanimous: mortgage production dropped significantly and gain-on-sale margins narrowed. Although mortgage servicing right values continued to climb, that doesnt always translate into improved earnings on that side of the business. A diverse group of 19 lenders including all ... [Includes one data chart]