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Noninterest mortgage income at US banks grew modestly in Q2'18

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Noninterest mortgage income at US banks grew modestly in Q2'18

Noninterest mortgage income was almost flat in the second quarter of 2018.

U.S. banks and thrifts reported $4.35 billion in noninterest income from the sale, servicing and securitizing of one- to four-family mortgages in the second quarter. This was higher than the $4.31 billion posted in the first quarter of 2018 and the $3.74 billion in the year-ago quarter.

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Mortgage servicing assets in the bank and thrift industry reached $43.93 billion as of June 30, up from $43.05 billion in the previous quarter and $39.14 billion a year ago.

Wells Fargo & Co.'s mortgage servicing assets grew 2.2% quarter over quarter to $16.82 billion, which was higher than the aggregate for the next six banks on the list.

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