In Brief: Subprime Originations Rise 66% at Westmark

record $135.2 million in subprime mortgages in the third quarter -- up 66% over the same quarter last year -- but that it does not expect to report an increase in net income.

Westmark said that its loan volume for the first three quarters was up 63%, to $327 million, and that its warehouse facility has been increased to allow for up to $80 million in monthly volume. But the company said investments in infrastructure and lower margins due to rising interest rates would prevent it from reporting a gain in net income.

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