As has typically been the case for home lending in the first quarter of this year, volume was lower at U.S. Bancorp. But its residential investments and servicing portfolio grew.

Before taxes, income during the period that started on Jan. 1, 2017, and ended on March 31 came to more than $2.0 billion, modestly lower than $2.1 billion in the prior period.

Those details and more were revealed in the Minneapolis-based financial institution’s earnings report for the first quarter of this year.

Source: Mortgage Daily