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Originations, Servicing Portfolio Decline at Flagstar

Mortgage production down 12%

July 24, 2013

By Mortgage Daily staff

The volume of home loans and the mortgage servicing portfolio were both down in the second quarter at Flagstar Bancorp Inc. But the number of mortgage sales jobs moved higher.

First- and second-mortgage originations totaled 12 percent less during the three months ended last month than in the first quarter, according to earnings data.

Mortgage production was also worse than in the same period last year, with origination volume moving down 13 percent from the second-quarter 2012.


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