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Comerica Bank to ‘organically exit’ warehouse lending

Dallas-based Comerica Bank has decided to “organically exit” the mortgage banker finance business following the tumult in the banking industry that threatened the nation’s top warehouse lenders.  

The process of exiting the space, which is expected to be largely complete by year-end, is a “strategic action” to enhance Comerica’s core business focus, according to a bank’s presentation during a Morgan Stanley conference on Tuesday. 

However, the recent banking crisis that resulted in the failure of Silicon Valley Bank, Signature Bank and others also added some risk to warehouse lenders, mainly those with a higher share of uninsured details ⇒

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