Hudson City Bancorp Inc., Paramus, N.J., charged off $9.6 million of nonperforming mortgage loans whose current values were below the outstanding loan balance during the second quarter. The charged-off loans, said Ronald E. Hermance Jr., chairman, president and chief executive, are still in the foreclosure process. These loans may or may not become real estate-owned. Even with the charge-off, Hudson City made $127.9 million, or $0.26 per share, up from $110.7 million, or $0.22 per share, for the same period one year prior. During the quarter, the company originated $1.7 billion and purchased $1.2 billion of first-mortgage loans.
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