CNN Money reports "the chaos in the mortgage markets is only going to get worse in 2008 and will put a dent in U.S. mortgage bank earnings, according to a report released Tuesday by Standard & Poor’s."

Next year will be the worst for mortgage bank earnings since the 1990s, the ratings agency said.

"Negative home price trends, the shutdown of the subprime mortgage market and the continued weak state of the mortgage capital markets all translate into lower growth for the mortgage industry," said Victoria Wagner, a credit analyst with S&P.

Douglas A. McIntyre