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Home » Store » Taxable » Strong Production Helps Lenders Boost Earnings

Strong Production Helps Lenders Boost Earnings

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Lower rates and higher production helped two of the market’s largest players post record earnings during the third quarter. At California-based New Century Financial, for instance, net earnings jumped more than 200 percent, to $16.7 million during the third quarter. Meanwhile, total revenues for the quarter were up more than $30 billion, to $89.1 billion, from last year’s third quarter.
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