Comerica airs plan to exit mortgage finance business by year-end, stock rises

Comerica Inc.
CMA,
+3.67%
stock is up 4.6% after it said in a filing it plans to organically exit the mortgage bank finance business by the end of the year. It’s part of an overall focus on “selective loan growth” at the bank, according to a presentation it’s making Tuesday at the Morgan Stanley U.S. Financials, Payments and CRE Conference.