Both on a quarter-over-quarter and year-over-year basis, a decline was recorded in mortgage earnings, originations and servicing at Branch Banking and Trust. Company-wide income rose, though.
Before income taxes, the Winston-Salem, North Carolina-based firm had a $978 million profit during the three months ended mid-2017, more than $839 million earned a year prior.
Those details, in addition to other operational and financial metrics, were presented Thursday in the financial institution’s second-quarter 2017 earnings report.
Source: Mortgage Daily