As home-lending activity increased at Impac Mortgage Holdings Inc., so did the size of its mortgage servicing portfolio and the amount it earned.
The Irvine, California-based mortgage banking firm earned nearly $13 billion before income taxes during the three months that ended on June 30.
Income improved from more than $1 million three months earlier, though Impac came up short compared to the $17 million earned a year earlier.
The results, along with other operational and financial metrics, were discussed in Impac’s second-quarter 2016 earnings report.
Residential loans originations came to $3.247 billion during the most-recent period.
Business picked up from $2.349 billion closed in the first-quarter 2016 and $2.604 billion funded in the second-quarter 2015.
From Jan. 1 through June 30 of this year, mortgage production amounted to $5.597 billion.
Second-quarter 2016 business included $2.493 billion in retail originations, $0.335 billion in wholesale lending and $0.420 billion in correspondent acquisitions.
Impac said it serviced $6.642 billion in mortgages as of June 30, 2016.
The servicing portfolio grew from $5.161 billion at the end of the previous three-month period and $3.571 billion at the close of the year-earlier period.
