Bank 2Q Mortgage Production Up 7%, But Financials Slip

National Mortgage News, July 15, 2021–Brad Finkelstein (subscription)
“While volumes were largely consistent with industry expectations, the notable data point was the sharp decline in gain on sale margins,” said Keefe Bruyette & Woods analyst Bose George. These banks that George covers — Wells Fargo, Bank of America, Citigroup and First Republic — followed the pattern of JPMorgan Chase.