2011-04-25 — mortgagenewsdaily.com
``Declining secondary marketing income driven by rising interest rates eroded profits at independent mortgage banks and their subsidiaries during the fourth quarter of 2010. According to the Mortgage Bankers Association's (MBA) Mortgage Bankers Performance Report those profits dropped to an average of $1,082 per loan from $1,423 in the previous quarter. However, in the fourth quarter of 2009 the figure was $890.''
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