National City Mortgage announced Monday it will stop taking registrations for new loans as of 2:30 p.m. Eastern Time.

National City Mortgage worked with mortgage brokers across the country to lend money for home loans.

Its DTC location wrote 150 to 200 loans per month. It handled loans in a four state region, Colorado, Wyoming, North Dakota & South Dakota.

The office will stay open until March 15 to accommodate the loans in the pipeline.

In a letter to customers, National City Mortgage said, "While this decision was not taken lightly, this business line no longer fits with National City's future mortgage business strategy. National City Mortgage will continue to offer a comprehensive suite of mortgage products that will satisfy most consumers’ needs. We will continue to originate loans through our Retail Lending channel via our retail mortgage branches as well as through National City’s retail bank branches. "

As to why National City Mortgage is getting out of the lending business, the company's letter explained, "As you know, rapidly changing conditions in mortgage markets have resulted in significant challenges in the industry. Like many mortgage lenders, National City has taken a number of aggressive steps to manage through the unprecedented disruption in the mortgage, housing and credit markets. However, continued volatility, coupled with a forecasted ongoing cyclical downturn in origination activity, requires that we take additional action."

National City Mortgage has about 30 employees at its DTC location.