Quarterly home lending tumbled at HomeStreet Inc. Mortgage losses piled up, hurting company-wide profits. Dozens of mortgage jobs were eliminated during the most-recent quarter.
The first-three months of 2018 brought income before income taxes of $8 million, according to the Seattle-based bank-holding company’s first-quarter 2018 earnings report.
Results deteriorated from the same three-month period last year, when income was $13 million. An even bigger decline was made versus the $17 million earned in the final-three months of last year.
Source: Mortgage Daily