Providence, Rhode Island-based Citizens Bank, the 28th largest U.S. mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. 

“After careful consideration, Citizens has made the difficult decision today to discontinue originations in the mortgage wholesale channel,” Chace Gundlach, senior vice president and national sales director, said in letters sent to broker partners on Tuesday and reviewed by HousingWire. 

A spokesperson for Citizens did not immediately reply to a request for comments.

Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. In 2018, details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com