Declining Mortgage Origination Volume Is Credit Negative for US Banks
The precipitous drop in mortgage-origination volume will lead to heightened competitive pressures that will materially lower mortgage banking revenue, which is credit negative for banks, says Moody’s on its latest Weekly Credit Outlook. However, the pain will hit banks unequally; for example, in Moody’s scenario this would reduce pre-provision income by 2% at JPMorgan but by [...]
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