Both on a quarter-over-quarter and year-over-year basis, a decline was recorded in mortgage earnings, originations and servicing at  BB&T Corp. Company-wide income rose, though.
Before income taxes, the
Winston-Salem, North Carolina-based firm had a $978 million profit during the three months ended mid-2017, more than $839 million earned a year prior.
Those details, in addition to other operational and financial metrics, were presented Thursday in the financial institution’s second-quarter 2017 earnings report.
Income soared from $530 million earned in the first-three months of this year.
Mortgage banking income before taxes fell to $73 million from $86 million in the first quarter and an upwardly revised $88 million in the second-quarter 2016. The decline was attributed to lower gains on the net mortgage-servicing rights valuation.
Residential loan production from April 1, 2017, through mid-year totaled $3.524 billion. Business weakened from the preceding period, when $3.993 billion was closed. Lending activity plummeted from the same three months last year, when $5.605 billion was funded.
Total first-half 2017 originations
amounted to $7.517 billion.
Retail originations accounted for $1.7 billion of second-quarter 2017 production, and correspondent acquisitions made up $1.8 billion. Refinance share was slashed to 32 percent from 48 percent in the previous quarter.
BB&T serviced $120.173 billion in home loans as of the conclusion of last month. The servicing portfolio
was trimmed from the end of the previous quarter, when it stood at $121.151 billion, and the same period in 2016, when $122.617 billion was serviced.
Third-party servicing made up $90.106 billion of the latest total. The weighted-average servicing fee on loans serviced for other parties was 0.279.
On BB&T’s balance sheet were $29.217 billion in residential mortgages as of June 30, 2017, off from $29.651 billion three months earlier and $30.650 billion one year earlier.
At 2.72 percent, 30-day residential delinquency improved 11 basis points from March 31, 2017.
Compared to the middle of last year, delinquency has plunged 92 BPS.
Commercial real estate holdings
increased to $18.727 billion from $18.631 billion at the end of March and $18.562 billion at the same point last year. Last month’s total was comprised of $14.851 billion in loans on CRE-income producing properties and $3.876 billion in CRE construction-and-development loans.
June 2017 finished with 37,374 full-time employees on BB&T’s payroll. Headcount was down nine people from the prior quarter and 270 positions in the same quarter the prior year.
Five branches were shuddered in the most-recent three-month period, leaving 2,188 still open.
