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Home » Store » Taxable » Washington Mutual Pulls Industry’s 2nd Quarter Mortgage Profits Lower

Washington Mutual Pulls Industry’s 2nd Quarter Mortgage Profits Lower

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A strong majority of mortgage lenders reported solid earnings growth in the second quarter, but the industry’s overall performance was dragged down by lower reported earnings at a few key companies, especially Washington Mutual. A new Inside Mortgage Profitability analysis shows 21 of 26 major lenders reported higher profits on their mortgage operations in the second quarter. But the five that showed lower earnings included WaMu, with a huge $531 million decline, and National City,
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