Mortgage Bankers Post Huge Profit Gains on Both Sides of the Business
February 15, 2013
Although its well known that mortgage bankers earned record profits on loan production and secondary marketing last year, a new analysis by Inside Mortgage Trends reveals that mortgage servicing was also highly profitable for the industrys top lenders. A diverse group of 10 top lenders reported a whopping $16.98 billion in net income from mortgage production and secondary marketing last year, after posting a combined loss of $5.79 billion in 2011. Massive repurchase expenses reported by ... [Includes one data chart]