After the four biggest bank lenders reported more than $24 billion of revenue from originations last year as refinancing soared, mortgage firms are accepting narrower margins as they seek to sustain demand from a shrinking pool of borrowers. Bond prices have slumped as the U.S. housing recovery contributes to optimism about the economy and investors start to brace for the end of the Federal Reserve’s debt purchases.
Mortgage profits fade
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Ginnie Mae denies majority of complaint in Texas Capital Bank lawsuit
Ginnie Mae admits only to core facts of the case, denying all allegations, “inferences, arguments, and legal conclusions” in the complaint.