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DAMAGE CONTROL: New mortgages fell sharply at FirstBank in Lakewood, Colo., partly because of homeowners "hesitancy" about "moving and purchasing" new homes, regional exec Patrick Brady (left) says. The drop-off at Fifth Third has forced the Cincinnati bank to "rationalize our mortgage business lines" with cost cuts, CFO Tayfun Tuzun says.

The Next Mortgage Threat: Homeowners Who Stay Put

Homeowners who took advantage of the refinancing boom aren't buying new houses, because it would mean taking on higher-rate loans. That's a problem for banks already reporting huge declines in mortgage revenue.

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