National City Corp., Cleveland, shut down its correspondent lending business Tuesday evening, citing challenging market conditions, but said it remains dedicated to serving mortgage customers through its retail and wholesale channels.The company stopped taking registrations at 5 p.m. Oct. 23 and said it would honor commitments and previously granted approvals in the pipeline. It said it would also complete the processing of the defunct channel's pending registrations and the locked pipeline of remaining correspondent loans. The company can be found on the Web at http://www.nationalcitymortgage.com.
Processing Content
