Noninterest mortgage income soared in the first quarter at U.S. banks and thrifts, even as mortgage servicing assets grew only modestly.
U.S. banks and thrifts reported $4.31 billion in noninterest income from the sale, servicing and securitizing of one- to four-family mortgages in the first quarter. This was higher than the $3.12 billion posted in the fourth quarter of 2017 and the $3.50 billion in the year-ago quarter.

Mortgage servicing assets in the banks and thrifts industry reached $43.05 billion as of March 31, up from $40.52 billion at end-2017 and $40.16 billion at March 31, 2017.
Wells Fargo & Co.'s mortgage servicing assets grew 9.3% quarter over quarter to $16.45 billion, the largest among U.S. banks. This figure was higher than the combined mortgage servicing assets of the succeeding six banks on the list.

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