Fundings turned higher at Flagstar Bancorp.
Second quarter residential production was $4.9 billion, 13 percent better than the prior period, according to an earnings announcement released Thursday. A year earlier, originations were $7.1 billion.
Volume had been down each of the two prior quarters.
Flagstar reported employing 530 loan officers and account executives, in addition to its 2,548 other employees, during the latest quarter.
The Troy, Mich.-based company said it serviced $22.4 billion in loans for others as of June 30 and sold nearly $10 billion in servicing rights during the quarter.
"As long-term yields have risen, we have resumed our historic practice of strategically selling mortgage servicing rights as opportunities arise," said CEO Mark Hammond in the announcement.
Second quarter earnings were $27.8 million, the statement said. The company's gain-on-sale spread was 20 basis points, down from 33 BPS during first quarter.