Secondary Income Saves Mortgage Firms from Recording a Losing 2005 as Profits Nosedive
October 27, 2006
Mortgage banking profits plunged in 2005 to $258 per loan from $657 per loan in 2004, but it would have been much worse if not for the profitable contribution of servicing. Net secondary income rose last year, according to the recently released Mortgage Bankers Association’s...