Barbara Desoer, a high-profile mortgage executive who once was a candidate to become chief executive of Bank of America Corp., is leaving as the financial giant retreats from the home-loan business.

The 59-year-old Ms. Desoer told employees in a memo on Friday that she is retiring effective this month. In an interview, Ms. Desoer said the exit was her decision. "I have given it my all," she said.

Read the story at The Wall Street Journal.