Monday, Oct 24, 2016
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National City to close wholesale-mortgage unit

CLEVELAND - Regional bank National City Corp. said yesterday it is closing its wholesale mortgage division, which offers mortgages through brokers, eliminating 900 jobs.

The cuts affect about one-seventh of National City's 6,274-person mortgage business and bring total announced job losses to 3,400 since the middle of 2007, mostly in mortgages. The bank has a total of 32,804 employees.

National City will continue to originate loans through its retail banking offices.

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