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