Source One Mortgage Services Corp. amended its second-quarter earnings to include $1.5 million of additional net income related to a $79 million capital infusion from its parent, Financial Security Assurance Holdings Ltd.
The revised result is a net loss of $12.3 million on revenues of $17.9 million. A year earlier the company reported net income of $5.9 million on revenues of $39.8 million.
Loan production in the second quarter was $827 million, compared with $1.1 billion a year earlier.
The infusion was mostly in the form of common stock, convertible redeemable preferred stock, and options to acquire Financial Security stock.
The $79 million is the second part of an infusion from the parent. Source One had received $40 million in the first quarter.