The primary activities of the Origination and you will Repair section is originating, to purchase, selling, and you can securitizing compliant and you may authorities-insured residential mortgages on the U. S. The firm utilizes three number one channels to own originating mortgage loans: correspondent, consumer and you may wholesale credit.
The fresh new Origination and Repair part advertised a 3rd one-fourth 2011 pre-income tax loss away from continuous procedures away from $311 million, versus pre-taxation income regarding continued functions of $425 billion during the third quarter out-of 2010.
