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Home » Store » Taxable » A Tale of 2 Banks in the Mortgage Business

A Tale of 2 Banks in the Mortgage Business

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Ventures into the mortgage business have led two Federal Home Loan Banks down two distinctly different paths, as the FHLBank of Chicago reported surging earnings for the third quarter while officials in Pittsburgh scramble to stem significant losses. FHLBank of Pittsburgh President James Roy told members last week that the bank is thinning its mortgage portfolio after heavy refinancing activity in May and June contributed to a third quarter loss of $6.8 million. Elsewhere
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