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Low Volume and Competition Hurt Q4 Mortgage Profits

(Mortgage News Daily) - 7 months, 2 weeks ago
 Posted To: MND NewsWireThe balance sheet turned red again for mortgage lenders who reported financial data for the fourth quarter to the Mortgage Bankers Association (MBS). On average the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks surveyed for MBA's Quarterly Mortgage Bankers Performance Report reported a net loss of $200 per loan, down from a reported gain of $480 per loan in the third quarter of 2018. It was the second quarterly loss in the last 12 mont...
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