Mortgage production at Flagstar Bancorp Inc. improved on both a quarter-over-quarter and year-over-year basis. A recent acquisition helped fuel the growth.
The Troy, Michigan-based company reported in its third-quarter earnings report that income before the provision for income taxes was $60 million.
Although Flagstar’s earnings weakened from $87 million during the same-three months last year, the bank-holding company reported no quarter-over-quarter change.
Source: Mortgage Daily