Quarterly residential loan originations accelerated at Wells Fargo & Co. and are likely headed even higher despite industry forecasts to the contrary.

The San Francisco-based bank-holding company revealed in its second-quarter 2017 earnings report $8.1 billion in income before income tax expense.

Earnings were stronger than $7.6 billion during the preceding three-month period. In the same three months last year, Wells Fargo earned $8.2 billion.

Source: Mortgage Daily