Bankers Trust Acquires B of A Mortgage: The New York-based bank, seeking to increase its presence in the securitized mortgage business, said it will acquire the Mortgage & Asset Securities Services business of BankAmerica Corp. Terms were not disclosed. The business serves issuers of mortgage-backed securities as mortgage trustee and bond administrator, including tax administration. The deal would increase the portfolio of securitized mortgages held by the bank and its subsidiaries to more than $92 billion in outstanding principal. Bankers Trust is the nation’s leading trustee of securitized mortgages.
BANKING & FINANCE
<i> Times Staff and Wire Reports</i>