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March 29, 1994 | From Times Staff and Wire Reports
BofA to Buy a Midwest Mortgage Company: Bank of America said it will acquire United Mortgage Corp. of Bloomington, Minn. The purchase price was not disclosed but a BofA spokesman said it was "not material" in terms of the bank's resources. The deal is designed to give BofA entry into the mortgage business in Florida and 15 Midwestern states. United Mortage holds a loan servicing portfolio of $4 billion, about 10% of BofA's existing portfolio, and last year originated about $1.
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BUSINESS
March 29, 1994 | From Times Staff and Wire Reports
BofA to Buy a Midwest Mortgage Company: Bank of America said it will acquire United Mortgage Corp. of Bloomington, Minn. The purchase price was not disclosed but a BofA spokesman said it was "not material" in terms of the bank's resources. The deal is designed to give BofA entry into the mortgage business in Florida and 15 Midwestern states. United Mortage holds a loan servicing portfolio of $4 billion, about 10% of BofA's existing portfolio, and last year originated about $1.
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March 10, 2005 | From Times Staff and Wire Reports
California Insurance Commissioner John Garamendi said Wednesday that he had sent subpoenas to Wells Fargo & Co. and five other companies as part of a probe into possible fraud among title insurers. The subpoenas went to Wells Fargo Home Mortgage, Los Angeles-based builder KB Home, Newport Beach-based builder William Lyon Homes, real estate franchisor Re/Max International Inc., United Home Mortgage Corp. and Shea Financial Services.
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