Another day, another sinking mortgage lender. Today’s victim is Capital One’s mortgage banking subsidiary. By closing the unit Capital One will be cutting 1,900 jobs. From MSN Money:

“Current conditions in the secondary mortgage markets create significant near-term profitability challenges,” Capital One said in a statement. “Further, recent and continuing developments in the mortgage markets reduce the long-term outlook for profitability in the business, as the company expects markets for prime, non-conforming mortgage products are likely to remain challenged.”

Later, gator.

Capital One closes mortgage biz [MSN Money]

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