As home lending slowed and loan servicing diminished at Bank of America Corp., mortgage losses widened. Mortgage assets expanded, though.
The fourth-quarter earnings report from the Charlotte, North Carolina-based bank-holding company indicated income before income taxes was $6.2 billion.
Earnings improved from $5.8 billion during the final-three months of 2016. But income declined from $7.6 billion in the previous three-month period.
Source: Mortgage Daily