Regions Financial Corp. reported that its mortgage originations declined, as mortgage earnings tumbled. The financial institution reduced the size of its servicing portfolio.
During the three months ended Sept. 30, Regions earned $451 million from continuing operations before income taxes, according to its third-quarter earnings report.
Income at the Birmingham, Alabama-based bank-holding company was down from $471 million a year earlier. But earnings were little changed from $450 million three months earlier.
Source: Mortgage Daily