National City Home Equity Stops Taking Loan Applications >NCC

August 08, 2007, 1:21 a.m. EDT 1 Min Read

DOW JONES NEWSWIRES

National City Home Equity, a unit of National City Corp. (NCC), stopped takingloan applications on Monday, according to an e-mail that was sent to mortgagebrokers.

MarketWatch obtained a copy of the e-mail.

National City Home Equity also said that decisions on loans that are currentlyin its pipeline would be made later Monday. Loans scheduled for closing canreceive closing documents through the normal process, the e-mail update added.

The decision to stop taking loan applications is nationwide, Jeff Thomas, anaccount executive at National City Home Equity, said in an interview Monday.

-Alistair Barr; 415-439-6400; AskNewswires@dowjones.com

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National City Home Equity Stops Taking Loan Applications &gt;NCC

National City Home Equity Stops Taking Loan Applications >NCC