HomeStreet Inc. reduced the size of its residential servicing portfolio, and cut the size of its mortgage staff, but mortgage losses still widened. Home lending was busier, though.

HomeStreet’s second-quarter earnings report revealed $9 million in income before income taxes during the three-month period that concluded mid-year.

The Seattle-based bank-holding company’s earnings plummeted from the same-three months last year, when it earned $16 million. But income was up from $8 million in the preceding period.

Source: Mortgage Daily