Thrifts Report Relatively Mild 7 Percent Drop in Mortgage Lending, Rebound in Servicing Profits
September 4, 2008
Lenders regulated by the Office of Thrift Supervision reported $107.5 billion in mortgage originations during the second quarter of 2008, down 7 percent from the first three months of the year, according to OTS data released last week. Compared to an estimated 10 percent drop in total originations during that period, the downturn in thrift production was fairly subdued. Thrifts also...