A quarter-over-quarter improvement was reported by U.S. Bancorp for its residential loan originations and its mortgage revenues.
During the three months that ended on June 30, the Minneapolis-based financial institution earned $2.1 billion in income before income taxes.
U.S. Bank disclosed the results, in addition to other operational and financial metrics, as part of its second-quarter 2017 earnings report.
The bank-holding company reported $212 million in mortgage-banking revenue, improving from $207 million the first quarter but falling short of the $238 million in revenues generated during the second-quarter 2016.
Residential loan originations worked out to $16.525 billion, modestly more than $15.137 billion in the previous three-month period but falling from $20.191 billion in three months ended mid-2016.
In the six months ended June 30, 2017, home-lending volume amounted to $31.662 billion.
Second-quarter 2017 production consisted of $10.999 billion in loans for sale, $3.420 billion in mortgages held for investment and $2.106 billion in HELs and second mortgages held for investment.
The third quarter is shaping up to be better than the second quarter based on application volume, which climbed to $16.7 billion in the second quarter from $13.3 billion three months prior.
U.S. Bank serviced $232.423 billion in single-family loans for third parties as of June 30, 2017. The servicing portfolio was trimmed from $233.558 billion three months earlier but grew from $231.878 billion at the same point last year.
Residential assets came to $75.106 billion as of mid-2017, growing from $74.429 billion as of March 31 and $72.385 billion as of June 30, 2016. Last month’s total was comprised of $45.412 billion in mortgages, $13.384 billion in first-lien home-equity loans and $16.310 billion in second mortgages and junior-lien HELs.
Mortgage delinquency of at least 30 days, including nonperforming loans, improved to 1.32 percent from 1.44 percent the previous quarter and 1.67 percent a year previous.
The past-due rate on HELs finished the latest quarter at 1.32 percent, down 4 basis points from the prior period and 6 BPS better than a year prior.
Commercial real estate assets were trimmed to $41.908 billion from $42.832 billion at the end of the first quarter and $43.290 billion midway through last year. The latest total consisted of $30.198 billion in commercial mortgages and $11.710 billion in construction-and-development loans.
CRE delinquency fell to 0.36 percent from 0.42 percent and was also lower than 0.38 percent as of the middle of last year.
The first-half 2017 concluded with 3,088 branches in operation. The count was down by three from the end of the first quarter.