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Flagstar Reports Declining Mortgage Margins: A Warning for Mortgage Bankers?

Flagstar Reports Declining Mortgage Margins: A Warning for Mortgage Bankers?

Last year was extraordinary for the mortgage banking sector. In addition, the Fed began large-scale purchases of mortgage-backed securities in order to push down longer-term mortgage rates. While much of the mortgage business is conducted by non-bank lenders, a few banks have a large presence in it.