Although quarterly mortgage earnings deteriorated from a year ago at JPMorgan Chase & Co., company-wide income rose. Mortgage originations fell, as did servicing and headcount.
The New York-based company said in its second-quarter earnings report that income before income tax expense was $10.6 billion in the three months ended June 30.
Chase’s earnings were better than the $9.7 billion in profits a year prior. Income was slightly off, though, from $10.7 billion earned in the first-three months of this year.
Source: Mortgage Daily