An analysis of earnings reports from 18 lenders showed combined income from production and secondary marketing declined from the first quarter. Servicing income also decreased. (Includes data tables.)
Mortgage-banking income declined by 6.1% on an annual basis in the first half of the year. At Chase, the largest bank in the mortgage market, a drop in servicing revenue more than offset an increase in production revenue. (Includes one data table.)
A group of 13 publicly traded nonbank lenders reported a combined $2.20 billion in mortgage-banking income for the second quarter, down 32.3% from the first quarter. (Includes data table.)