Flagstar Bancorp Inc. accomplished what none of its peers thus far have; it generated a quarter-over-quarter and year-over-year increase in mortgage originations. Mortgage assets also expanded.
Before income taxes, the Troy, Michigan-based bank-holding company earned $51 million during the three months ended Dec. 31, 2017, according to its fourth-quarter earnings report.
Income improved from $42 million during the final-three months of 2016. But there was a decline in earnings compared to the $60 million earned in the preceding three months.
Source: Mortgage Daily