The two largest bank-owned mortgage companies reported solid gains in net income in the second quarter, despite lower lending volume and higher interest rates.

Analysts said Norwest benefited from its huge servicing portfolio, while Chase's result was boosted by cost savings from merging the operations of Chase and Chemical Banking Corp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.