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‘Average’ Mortgage Banker Eked Out Modest Profit in 2007, MBA Reports
Improved profitability on the servicing side of the business helped mortgage bankers offset declining earnings on production and marketing in 2007, according to the Mortgage Bankers Association annual cost study. The “average” mortgage banking business earned pretax financial income of $0.9 million last year – down from $6.4 million in 2006 and $26.0 million in... [Includes one graph]
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