CHICAGO -- As the mortgage banking industry gathered here this week, executives got the word that 1994 would be a bad year for their business. Or maybe a good one.

On the negative side, David Lereah, chief economist for the Mortgage Bankers Association, said he expected loan originations to drop to about $850 billion, from about $1.1 trillion this year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.