Minneapolis-based U.S. Bank has decided to close the wholesale mortgage businesses it inherited in the acquisition of California-based MUFG Union Bank, the company confirmed on Friday. 

“This is a business that U.S. Bank exited a few years ago to focus on customer relationships in core lending categories,” a spokesperson for U.S. Bank wrote in a statement to HousingWire. “These decisions are never easy; however, U.S. Bank is committed to transparency and clarity for all employees and therefore communicated this decision as soon as possible to impacted employees.”

The spokesperson for U.S. Bank did not provide further details, such as the number of employees affected. National Mortgage details ⇒