"What would it mean for mortgage companies if we added $400 billion or $500 billion of refis to loan originations in the next year?" a securities analyst asked.

He may have been feeling mellow from the lunch he had just finished. Nobody ventured an answer.

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.