ING Direct exiting from wholesale mortgage business
ING Direct USA, which was recently acquired by Capital One Financial Corp., is leaving the wholesale mortgage business, Dow Jones Newswires reported.
The company sent notices to partners this week, and in one said it would stop originating mortgages through brokers as of April 3. In another notice, ING said it will stop acquiring home loans from correspondent lenders on April 10.
The change doesn’t affect existing mortgage customers or customers who have applied for loans, a spokesperson said.