Thrifts will be sharply reducing the origination of first mortgages for their own portfolios over the next five years.

That's one of the key findings in a survey of 453 thrifts by America's Community Bankers, the industry trade group. It found that only 30% of thrifts expect to originate first mortgages for their portfolios in five years, down from about 79% in mid-1996.

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