A surge in gains on mortgage servicing rights significantly lifted Stonegate Mortgage Corp.’s income. But home lending slowed and will fall further.
From Oct. 1, 2016, through the end of last year, the Indianapolis-based mortgage banking firm earned $37 million before income tax expense.
The results, in addition to other financial and operational metrics, were presented in Stonegate’s earnings report for the fourth-quarter of 2016.
Source: Mortgage Daily