Virginia-based mortgage lender City Lending Inc. is winding down operations as regulatory burdens and ongoing industry consolidation weigh on independent mortgage banks, according to founder and CEO Jorge Campodonico.

The lender originated approximately $232 million in mortgages over the past 12 months — most of it through Federal Housing Administration (FHA), conventional and purchase loans — according to data from mortgage tech platform RETR.

Records from the Nationwide Multistate Licensing System (NMLS) show the company had three sponsored loan officers at one active branch as of Monday. City Lending maintained licenses in 29 states, details ⇒

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