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Thrift Loan Originations Down

Mortgage New Daily reported that residential home loan originations tumbled at U.S. thrifts, while mortgage loan delinquency spiked and troubled assets grew. Still, the lending sector earned its first profit in seven quarters.

The Office of Thrift Supervision reported that thrifts originated $62.4 billion in residential home mortgages during the 2nd quarter.  Mortgage loan production fell from the first quarter’s $88.1 billion and tumbled from $107.5 billion in the 2nd quarter 2008. Mortgage lenders and bank chartered companies have become more cautious as loan modification plans and foreclosures continue to mount.

Posted in Mortgage News, Subprime mortgage news.

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