BankUnited Cites Drop in Whole-Loan Sales

In a preview of its third-quarter earnings release, BankUnited Financial Corp., Coral Gables, Fla., said it will make nearly $3 million less on mortgage whole-loan sales for the period than it did in the previous quarter.The company said there were gains available at times for option adjustable-rate mortgage loans it was looking to sell in the whole-loan market, but that it deemed those gains to be insufficient. Therefore, it elected to hold on to the loans during the quarter. BankUnited said it expects its gain-on-sale to be approximately $500,000, compared with $3.5 million for the previous quarter.