Banks Are Backing Away From Mortgages

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Big banks are starting to back away from mortgages and are lending less.

The trend is following the rise in lenders like Quicken Loans which has been taking up market shares of mortgages in recent years.

“The mortgage market is coming off the highs it realized in 2012,” said Erik Oja, S&P Capital IQ banking analyst. “A lot of it is expected, in terms of origination.”

Image via Flickr/401(K) 2012

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