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The Morgage Meltdown Doesn't Appear to Impact Western Alliance's Earnings

The Morgage Meltdown Doesn't Appear to Impact Western Alliance's Earnings

Mortgage real estate investment trusts (REITs) were battered by rising rates and mortgage-backed security underperformance. Mortgage originators were hammered by collapsing volumes. Western Alliance (NYSE: WAL), which has heavy exposure to the mortgage space, recently released earnings.