Bank of America Reports Drop in Mortgage Banking Income

HousingWire, July 18, 2017–Kelsey Ramirez
The bank reported an increase of 10% in its net income to $5.3 billion during the first quarter. This is also up from last quarter’s $4.9 billion. However, mortgage banking income created a drag on noninterest income, which increased 6% to $11.8 billion in the second quarter.