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News Max: Mortgage Lenders ‘Make Hay’ With Loan Spreads Widest Since 2008

Unemployment is high. Credit is tight. And scientists are warning that a dangerous second wave of the coronavirus is coming. But somehow, U.S. mortgage companies are having one of their best years in history. Just ask Keith VandenAkker. He’s forgoing weekends to keep up with the work….

Meanwhile, lenders are now earning almost twice as much per loan as they did last year, said Jim Cameron, senior partner with STRATMOR Group, an industry consulting firm in Greenwood Village, Colorado. Employees are also earning more, including underwriters, who are now a hot commodity. Loan officers, who earned about $120,000 on average last year, are now making as much as 50% more, he said. The best are earning more than $1 million.

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