BANKS
From Times Staff and Wire Reports
RTC to Sell Big Mortgage Banking Firm: The Resolution Trust Corp. is about to sell the largest mortgage banking company under its control to an investor group backed in part by Texas billionaires Sid and Lee Bass. The San Antonio-based company, BancPlus Mortgage Corp., is to be bought for more than $100 million by a group led by Herbert Carrel, its chief executive, according to industry sources. The sale will reduce the government’s mortgage servicing portfolio by almost 10%, to $84 billion.
