Year of Record Profits Ends Softly as Mortgage Banking Slowed in 4Q12
February 1, 2013
Mortgage lenders large and small continued to report strong earnings on their mortgage banking operations during the fourth quarter of 2012, but the year that likely will go down as the most profitable in the industrys history ended on a downslope. A new Inside Mortgage Trends analysis of year-end earnings reports from 23 lenders reveals a staggering combined earnings of $32.74 billion for the full year of 2012. The same group posted an aggregate net income of $5.35 billion, a total ... [Includes one data chart]