Mortgage Banking Profits Strengthen in Surprisingly Strong Second Quarter
August 4, 2006
Mortgage banking became more profitable during the second quarter of 2006, although earnings this year are still below the level set during the first half of 2005, according to a new Inside Mortgage Profitability analysis of public company earnings. A group of 31 lenders, including most of the top originators and servicers in the business, reported a combined $3.38 billion in mortgage banking income during the second quarter. That was up 17.8 percent from the… [One data table included]