NationsBanc to Buy $10-Billion Mortgage Portfolio: The sale represents 25% of Source One Mortgage Services Corp.'s mortgage servicing portfolio and will increase the portfolio of NationsBanc Mortgage Corp. to about $50 billion. Terms of the deal were not revealed, but the transaction is expected to close by the end of March. It consists of servicing for about 115,000 loans--with a weighted average interest rate of 7.72%--principally in California, Washington, Texas and Florida.
Times Staff and Wire Reports
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