"Wachovia Corp., the nation's fourth largest-bank, said Monday that it is leaving the wholesale mortgage lending business.
Beginning July 25, the company will no longer offer mortgages through brokers, joining other lenders making similar moves to exit the troubled sector. Rival Bank of America got out of the business several months ago.
Wachovia didn't disclose how many jobs will be cut as a result of the change. More details are expected Tuesday when the Charlotte, N.C.-based bank releases its second-quarter earnings."
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Wachovia to exit wholesale mortgage business
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