Quarterly home-lending volume moved up at U.S. Bancorp and appears to be headed even higher. As corporate income rose, mortgage earnings were lower. The mortgage servicing portfolio contracted.
The Minneapolis-based financial institution’s second-quarter earnings report reflected $2.2 billion in income before taxes.
Earnings were up from $2.1 billion in the second quarter of last year. Results also showed an improvement from the $2.1 billion earned during the first quarter of this year.
Source: Mortgage Daily