The Big Chill For Mortgage Bankers

The unprecedented decline in interest rates over the past few years has been a bonanza for homeowners, who have rushed to refinance mortgages at much lower rates. The decline has also meant lucrative paydays for mortgage bankers and brokers, who account for half the nation's mortgage volume. Allan Gutterman, president of Response Professional Placement Inc., a New York mortgage-banking agency, says he has "more assignments than I can physically handle."

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