News for hackers. Stuff that matters.

A comment on Mortgages Are a Manufactured Product. Parent comment

Re:Mortgages Are a Manufactured Product by grob-gambit on Sunday May 19, 2024 @11:00AM (#40407382)
In the US, mortgage banking is about 20% or so of a regional bank on up in terms of revenue generation.

Modern banking is an incredibly complex business so you could basically say no single division makes much money vs the other parts as a whole.

I think that would be a wrong way to view the business though. As if banks would not be in mortgage lending if they could. It is quite the opposite, any one bank would love for the other banks to get out of mortgage lending.

[ Parent | on HN ]
Re:Mortgages Are a Manufactured Product by notfromhere on Sunday May 19, 2024 @11:14AM (#40407471)
Banks in the us usually just originate them then promptly sell them to Fannie May. Otherwise they just handle payments, etc.
[ Parent | on HN ]