Second quarter residential originations were up from the prior period and the prior year at Bank of America Corp.
The Charlotte, N.C.-based bank reported $44.5 billion in mortgage production, 24 percent higher than the first quarter. Compared to the 2nd quarter 2005, business is almost $4 billion better.
Bank of America said second quarter "mortgage originations" were $23.4 billion, more than $6 billion higher than the prior quarter. "Home equity originations" were up almost $3 billion to $21.1 billion.
The mortgage servicing portfolio was $313.0 billion as of June 30, according to the announcement. Bank of America held $222.8 billion in residential mortgages and $68.9 billion in its own portfolio at quarter's end.
Net income was $5.48 billion, the statement said.