While home lending accelerated and servicing expanded at SunTrust Banks Inc., mortgage earnings were lower. Staffing subsided, and commercial mortgage delinquency spiked.
In the three months ended mid-year 2018, SunTrust earned $895 million before the provision for income taxes, according to its second-quarter earnings report.
The Atlanta-based bank-holding company’s results improved from one year previous, when income was $752 million, and one quarter previous, when $792 million was earned.
Source: Mortgage Daily