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Regional Lenders Add To Chorus Of Banks Warning of Mortgage Declines

arge regional lenders SunTrust Banks Inc. ( STI ) and Regions Financial Corp. ( RF ) warned investors Tuesday of a fall- off in the mortgage business, adding to the growing chorus of banks who expect their home-lending operations to take a hit as a plunge in loan refinancing weighs on the industry. SunTrust Chairman and Chief Executive Officer William Rogers Jr. said at an investor conference that its mortgage applications declined by about 40% in July and August from the second quarter, citing a decline in refinancing.

via Regional Lenders Add To Chorus Of Banks Warning of Mortgage Declines – Update – NASDAQ.com.

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