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Banks’ mortgage-servicing lines post losses amid falling rates

Falling interest rates are generally seen as a boon to banks’ mortgage business as borrowers increasingly take out new loans to buy homes or refinance. But lower interest rates hurt some of the country’s biggest mortgage banks, which reported the size of their mortgage-servicing businesses declined in the second quarter. Banks that have reported their second-quarter earnings disclosed that the value of the servicing rights fell between 7 percent and 10 percent, the Wall Street […]

The Real Deal New York

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