Valley Federal Sells Unit: Valley Federal Savings...

Valley Federal Sells Unit: Valley Federal Savings & Loan Assn., Van Nuys, sold its mortgage banking unit, All Valley Mortgage Co., for about $7 million. The buyer was Herbert Tasker, an investor with mortgage banking experience in California. The sale is part of Valley Federal’s effort to bolster its sagging finances. The thrift, with $3.4 billion in assets, lost $3 million last year.