Despite a quarter-over-quarter drop in mortgage originations, Flagstar Bancorp Inc. lifted lending and servicing on a year-over-year basis.
In its fourth-quarter 2016 earnings report, Flagstar revealed income before taxes of $42 million in the three months ended Dec. 31, 2016.
Earnings at the Troy, Michigan-based financial institution sank from $87 million the prior quarter and fell from $45 million in the year-prior period.
Source: Mortgage Daily
