Top Lenders Continue Piling Up Record Mortgage Banking Profits
October 19, 2012
The top mortgage lenders in the industry reported a record $8.35 billion in net income from their mortgage banking businesses during the third quarter of 2012, according to a new Inside Mortgage Trends analysis of early earnings reports. That represented a solid 9.1 percent increase over the second quarter and brought the group which includes Wells Fargo, JPMorgan Chase, Bank of America, Citigroup and U.S. Bank to a whopping $23.36 billion in mortgage banking income for the first nine months of the year. During the same period in 2011, these five lenders reported...