A quarterly leap in mortgage originations at Flagstar Bancorp Inc. is set to repeat in the current quarter. But the primary mortgage servicing portfolio was reduced.
The Troy, Michigan-based financial institution reported in its second-quarter 2017 earnings report that it earned $60 million before income taxes.
While results weakened from $69 million in the same quarter last year, a significant improvement was made versus $40 million earned in the first-quarter 2017.
Source: Mortgage Daily