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Article: Market Street makes 'major' change: Florida company pays $2.1 million for Major Mortgage.(Market Street Mortgage Inc., Mortgage Corporation Ltd.)
- Article from:
- Wenatchee Business Journal
- Article date:
- July 1, 2005
- Author:
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Market Street Mortgage Corp. of Clearwater, Fla., has agreed to pay $2.1 million for the 27 remaining offices operated by mortgage company Major Mortgage, including its East Wenatchee office on Valley Mall Parkway.
Although the company will pay $2.1 million for 27 offices--offices that originated more than $690 million in mortgage loans in 2004--Randy Johnson, president of Market Street Mortgage, said Major Mortgage was not a company in trouble. He did admit that the company's "profit margins were compressed," but he emphasized that the company's management "talent" made it an attractive deal. It also gives Market Street a foothold in a new market.
"We ...