Quarterly earnings moved solidly higher at Wells Fargo & Co., though mortgage earnings and originations were down from a year ago. The servicing portfolio continued to be reduced.

In its third-quarter earnings report, the San Francisco-based bank-holding company disclosed $7.6 billion in income before income tax expense.

Earnings strengthened from $6.8 billion in the same three-month period during 2017. Results also improved from the preceding quarter, when income came in at $7.1 billion.

Source: Mortgage Daily