Slowly but surely there are a lot of mortgage companies taking a drop in profits based on what is happening in the market. If consumers are taking a hit, then so shall the companies. More and more people are not able to afford their homes based on the ARM adjustment. What do mortgage companies expect? First Horizon National Corp has taken a hit because of the lower sales margin. Seriously based on the downturn of the market, I would expect more companies to come out saying they are taking a loss. If you are working for a mortgage company, has there been talk of a loss in revenue?
