Chinatrust Bank USA, New York, has decided to quit the business of extending warehouse lines of credit to mortgage banking firms, MortgageWire has learned.Stephanie Kopf, first vice president of Chinatrust, confirmed the news. At midyear, Chinatrust had warehouse commitments of $107 million, a 23% decline from the level recorded a year earlier. In an interview this summer, Ms. Kopf said that line usage "is low right now," adding that "we're getting a lot of requests for [home equity lines of credit], but we don't do those."
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