PNC Financial Services is continuing to talk to at least one interested bidder that wants to buy the warehouse lending division of National City Corp., according to officials close to the situation. PNC, which bought NatCity late last year, declined to discuss the issue. One warehouse analyst told National Mortgage News that PNC will not extend warehouse credit to nondepository mortgage bankers beyond midyear 2010. In some cases, the cut-off will be March 31, said the analyst, requesting anonymity. After the failure of Colonial Bank this summer, the NatCity unit is believed to be one of the largest warehouse providers in the industry. PNC, though, has declined to release commitment figures.
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