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February 24, 2014

10 Major Banks Earned a Combined $2.19 Billion in 4Q Off of Servicing

By John Bancroft

Overall, the group reported a 5.8 percent increase in total mortgage banking income – which for some firms includes activity not captured in either production or servicing – during the fourth quarter.

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%