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May 21, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
The parent company of Union Security Mortgage Co. said Thursday that it has agreed to sell the mortgage bank to a private company in Virginia for an undisclosed amount of cash. Roxy Root, president of Union Security, said the transaction is expected to close at the end of the month and that the 80-employee operation will become a subsidiary of the newly created Knight Corp. in Herndon, Va. The change in ownership is expected give Union Security a boost, Root said.
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BUSINESS
May 21, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
The parent company of Union Security Mortgage Co. said Thursday that it has agreed to sell the mortgage bank to a private company in Virginia for an undisclosed amount of cash. Roxy Root, president of Union Security, said the transaction is expected to close at the end of the month and that the 80-employee operation will become a subsidiary of the newly created Knight Corp. in Herndon, Va. The change in ownership is expected give Union Security a boost, Root said.
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