Service charges income drives growth in non-interest revenue; continued focus on expense managementNon-interest revenues totaled $536 million, up 1 percent linked quarter. Service charges income increased to $254 million, which is 4 percent higher than the prior quarter. Mortgage production for the quarter was approximately $2.1 billion, an 18 percent increase from the prior year. HARP II loan production year-to-date was $1.6 billion, surpassing the full year company goal of $1 billion in HARP II loans. As of the end of the quarter, analysis indicated that less than approximately 20 percent of HARP-eligible loans have refinanced. Throughout 2012 approximately 50 percent of HARP II applications were for homeowners whose mortgage was not originally serviced by Regions. Customers continue to take advantage of the low interest rate environment through traditional and HARP II mortgages for both refinancing and new home purchases.
Regions Financial Corporation And Subsidiaries Financial Supplement Fourth Quarter 2012
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