While The PNC Financial Services Group Inc.’s mortgage earnings and originations weakened from a year earlier, third-party mortgage servicing has grown during the period.
In the three months ended Sept. 30, the Pittsburgh-based company earned over $1.5 billion before income taxes and non-controlling interests, according to its third-quarter earnings report.
Income improved compared to the same three-month period in 2016, when PNC earned $1.3 billion. Earnings also were up from nearly $1.5 billion the preceding quarter.
Source: Mortgage Daily