Quarterly growth was recorded for mortgage assets, earnings and originations at Bank of America Corp. Contraction continued, however, in the mortgage servicing portfolio.

BofA revealed in its second-quarter earnings report that income before income taxes was $8.4 billion. Results were far better than the $6.8 billion earned in the same period last year.

A slightly bigger improvement was made compared to the first-three months of this year, when the bank-holding company generated $6.6 in pre-tax profit.


Source: Mortgage Daily