With origination volume slumping, mortgage companies are not paying out the fat yearend bonuses that have been typical in the past. Bonuses that are half of last year's are not uncommon.

But very few members of the rank and file are looking for a new job as a result. In an industry that has seen volume drop by up to 50% and had staff reductions of a third or more, most people are glad to be working, even if their incomes may have been cut sharply.

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