Fat mortgage profits drove earnings at financials last quarter, but maybe not this one. Compass...

|By:, SA News Editor

Fat mortgage profits drove earnings at financials last quarter, but maybe not this one. Compass Point estimates gain-on-sale margins - the amount lenders make packaging and selling mortgages - could be down 40% in Q1. It's not just the big banks getting hurt. Profits at originators like FBC, NSM, PMT, EVER, and PHH could be most damaged, says Compass Point.