Mortgage Industry Consolidation
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Popular Bank exits mortgage lending
American Banker· 2025-10-24 21:12
Puerto Rico-based Popular Bank announced it is exiting home lending, the second institution to make the decision in a little over a month. The company said competitive pressure and the wish to focus on areas with greater revenue potential motivated their exit from the mortgage segment. "As part of our ongoing efforts to improve profitability, we decided to exit the U.S. residential mortgage origination business," said Jorge Garcia, chief financial officer of parent company, Popular Inc., in its third-qua ...