As rising rates and a tight housing supply have hurt mortgage earnings at HomeStreet Inc., the company has taken steps to reduce the size of its home-lending business.

Before the provision for income taxes, the Seattle-based bank-holding company revealed in its third-quarter 2017 earnings report $20 million in income.

Earnings were slashed by more than half from the $43 million earned during the same-three months last year. But income improved from $16 million in the preceding quarter.

Source: Mortgage Daily