Refi Surge, Hefty Margins Push Industry To Record Mortgage Banking Profits
November 2, 2012
With most precincts now having reported third-quarter earnings, the outcome is clear: mortgage banking was hugely profitable during the third quarter of 2012. A new Inside Mortgage Trends analysis of earnings reports from 25 public companies reveals record mortgage banking income of $9.903 billion during the third quarter. That was a huge 19.2 percent increase over the hefty $8.311 billion these companies earned from their mortgage banking activities during the second quarter ... [Includes one data chart]