Quarterly record pre-tax earnings were reported by Bank of America Corp. In the mortgage business, loan production tumbled on a linked-quarter and year-over-year basis.
BofA’s third-quarter income before income taxes climbed to $9.0 billion from $7.6 billion during the same three months in 2017, according to earnings data released Monday.
Results at the Charlotte, North Carolina-based bank-holding company also improved compared to the preceding three-month period, when income came to $8.5 billion.
Source: Mortgage Daily