The record mortgage profits reported by big lenders like Wells Fargo and JPMorgan Chase are drying up, as increased competition hold rates near all time lows. Profits made from mortgage backed securities are being undercut by falling bond prices, decreasing profits by as much as 40 percent from last quarter, according to Compass Point Research and Trading estimates cited by Bloomberg News. Last year the four largest banks reported more than $24 billion of revenue from mortgage originations. But with the [more]![]()
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