The residential mortgage originations of HSBC Holdings PLC surged by more than 80% from the prior quarter but are way off of last year's level.
The second quarter U.S. mortgage production of London-based HSBC totaled nearly $7.0 billion -- quite a jump from $3.8 billion in the first quarter. However, the latest total is way below $12.1 billion a year ago, according to an e-mailed statement.
The reported volume numbers do not include home equity fundings, a spokesman said in the message.
At the second quarter's end, the company's servicing portfolio was $65.1 billion, off about $0.7 billion from the previous three-month period, the statement showed.