PNC Says Sales of Loans Slowed by Foreclosure Issue

PNC Financial Services Group Inc., the sixth-largest U.S. bank by deposits, said investors are less interested in acquiring mortgage assets because of concern that foreclosures may have been mishandled.

“Investors are a little bit nervous until we work our way through the foreclosure dilemma,” Chief Financial Officer Richard J. Johnson said today during a presentation at the BancAnalysts Association of Boston Conference.