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Article: Secondary market isn't just for megabanks. (includes related article; Real Estate Finance)
- Article from:
- ABA Banking Journal
- Article date:
- May 1, 1992
- Author:
CopyrightCOPYRIGHT 1992 Simmons-Boardman Publishing Corporation. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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I Most large banking organ-izations run their own mortgage banks, which originate and service residential loans for the secondary mortgage market. Yet, because of several misconceptions, many community banks don't make use of the mortgage banking technique.
Among some community bankers, the secondary market has acquired an off-putting mystique. Many of the articles written about the business speak of high-volume operations and use acronyms, which can discourage the newcomer. But I maintain that community banks can originate loans for the secondary market both efficiently and profitably. My $180 million-assets institution, Citizens Commercial Bank & Trust Co., ...