Mortgage bankers of all sizes continued to report strong earnings on their mortgage banking operations during the fourth quarter of 2012, but the salad days may be over.
The mortgage banking industrys record level of profitability may have peaked, as gain-on-sale margins have already begun to slip and more dark clouds appear on the horizon, according to industry analysts.
Despite the bad press and the elimination of the standard fixed-rate reverse mortgage product from the Home Equity Conversion Mortgage program, reverse mortgages will continue to thrive simply because people grow old, former Ginnie Mae chief Joe Murin told Inside FHA Lending.