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Mortgage Servicing Boost SunTrusts Income

first_img April 21, 2017 572 Views Share in Daily Dose, Data, Headlines, News, Origination On Friday, SunTrust Banks, Inc. reported its Q1 2017 results. The bank posted a net income of $451 million, or $0.91 per average common diluted share. This is a three percent increase over the previous quarter and a four percent year-over-year increase.”Our performance this quarter is the direct result of the investments we have been making in strengthening our franchise and diversifying our business mix,” said William H. Rogers, Jr., Chairman and CEO of SunTrust Banks, Inc.  “2017 is off to a good start and we remain committed to investing in client growth, improving efficiency, and increasing capital returns.”Total revenue for the quarter was $2.2 billion, a $55 million increase from the previous quarter. Net interest income increased $23 million.The bank noted that higher mortgage-related income and investment-related income pushed the noninterest income up by $32 million.Mortgage servicing income posted a strong quarter, with a net income of $53 million over the previous quarter’s $25 million. Still, this was a decrease from the previous year’s Q1 income of $62 million.Mortgage production income was $53 million for Q1 2017, a decrease from Q4 2016’s $78 million, and a year-over-year decrease from Q1 2016’s $60 million.At the end of Q1 2017, early stage delinquencies were 0.72 percent, unchanged from the previous quarter.  Excluding government-guaranteed loans which accounts for 0.50 percent, early stage delinquencies were 0.22 percent, down 5 basis points from the prior quarter and down 7 basis points compared to a year ago.SunTrust banks has seen a steady decrease in nonperforming loans over the past several quarters, going from 0.70 percent in Q3 2016, to 0.59 percent in Q4 2016, the most recent data showing the ratio of nonperforming loans at 0.55 percent.Total non-performing assets were down $61 million from the previous quarter, which SunTrust banks attributes to the continued resolution of problem energy credits.center_img Bank mortgage SunTrust 2017-04-21 Seth Welborn Mortgage Servicing Boost SunTrust’s Incomelast_img read more

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When the rumors of the Cardinals trading Dominique

first_imgWhen the rumors of the Cardinals trading Dominique Rodgers-Cromartie to Eagles for Kevin Kolb surfaced, they were met with some skepticism and disbelief.Now the rumors appear to be fact.The Arizona Republic’s Kent Somers reports that the sticking point in a deal is not the former Pro Bowler.The Cardinals are still discussing compensation with the Eagles, who reportedly are seeking a starter and at least a high draft pick. The Cardinals are willing to part with starting cornerback Dominique Rodgers-Cromartie, but the two sides apparently can’t agree on other parts of the deal.Additionally, the Cardinals would have to sign Kolb to a new deal. Dealing Rodgers-Cromartie and a draft pick, coupled with spending big money on Kolb, would be a hefty price to pay for an unproven quarterback. Comments   Share   Top Stories Nevada officials reach out to D-backs on potential relocation We knew the Eagles wanted to trade Kolb, and it was assumed the Cardinals had great interest. The only thing we didn’t know was the asking price, and that appears to be taking shape.center_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right awaylast_img read more