Wholesale lending at GE Capital Mortgage Corp. was way down in the first half, but the company says it has no plans to exit the wholesale business and that its volume has already rebounded.

Adverse market conditions were the reason for GE's small wholesale purchases in the first six months, according to Michael Cachel, a GE spokesman. The company's wholesale unit originated a little more than $800 million in the period, a drop of roughly 90% from the level a year earlier.

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