Impac Mortgage Holdings Inc.’s servicing portfolio has more than doubled over the past year. But year-over-year deterioration was reported for quarterly earnings and originations.

Before the provision for income taxes, the Irvine, California-based firm earned $7 million during the three months ended mid-year 2017, according to its second-quarter earnings report.

An increase in earnings was made compared to the preceding period, when the total was $5 million. But results came up far short compared to $13 million earned in the same quarter last year.

Source: Mortgage Daily