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Barclays PLC will shut down its US wholesale mortgage origination unit just two years after having made a major effort to get into the business.
Peter Truell, a spokesman for the London company, confirmed last Tuesday with IDD sister publication American Banker that it plans to close EquiFirst Corp.
"Due to market conditions, Barclays Capital has chosen to exit its residential mortgage origination business, EquiFirst," Truell said....
