PAINFUL TRANSITION: Mortgage purchases continue to 'gain momentum,' but they are 'not nearly enough' to offset the decline in refinancings, SunTrust CEO William Rogers said.

SunTrust's Struggle Crystallizes Mortgage Dilemma Facing Banks

Executives at SunTrust hope higher interest rates eventually translate into more new mortgages and wider margins, but the hit to its refinancing business is forcing cost cuts and balance sheet adjustments now.

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