The Morgage Meltdown Doesn't Appear to Impact Western Alliance's Earnings
The past year has been awful for the mortgage space. Mortgage real estate investment trusts (REITs) were battered by rising rates and mortgage-backed security underperformance. Mortgage originators were hammered by collapsing volumes. How did one of the mortgage-banking industry's biggest bankers fare?
Western Alliance (NYSE: WAL), which has heavy exposure to the mortgage space, recently released earnings. Let's take a look at how this banker is doing in the current mortgage environment and whether the stock has been affected.
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Source Fool.com
