Home-lending volume jumped at Flagstar Bancorp Inc., and it’s likely a further ascension is ahead. Also increasing were headcount, servicing and commercial mortgages. But mortgage revenues were off from a year earlier.
Income before income taxes during the period that began on April 1 and concluded mid-year came to $62 million, according to the Troy, Michigan-based firm’s second-quarter earnings report.
Results were slightly better than the $60 million earned in the year-earlier period. A big improvement was made versus the $44 million earned in the preceding three-month period.
Source: Mortgage Daily