Quarterly earnings were stronger at Bank of America Corp. as originations improved. The payroll expanded, and the residential and commercial mortgage portfolios grew.

Charlotte, North-Carolina-based BofA disclosed in its second-quarter earnings report $8.5 billion in income before income taxes.

Results exceeded the second quarter of last year, when it earned $8.1 billion, and three months earlier, when earnings worked out to $8.4 billion.

Source: Mortgage Daily