The Mortgage Bankers Association (MBA) believes residential originations will fall to just $1.28 trillion in 2010 -- a 33% decline from last year and the industry's worst year since 2000.

In early December, the trade group had forecast loan production of $1.5 trillion but lowered its estimate Tuesday morning. (According to National Mortgage News, the industry funded $1.9 trillion in 2009.)

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