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Article: N. American seeks buyer for servicing operation. (North American Mortgage)
- Article from:
- American Banker
- Article date:
- August 13, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sprinting ahead with plans to be acquired by Dime Bancorp, North American Mortgage has put its loan servicing operation on the market and has begun hashing out strategies for post-merger operations.
The steps, which have the blessing of Dime Mortgage, come as North American closes in on its fall target date to be acquired by the New York bank for $374 million.
"We're putting things in place, including steps to increase support to the field," said Pete Bonnikson, an executive vice president at North American.
Dime operates its own loan servicing center and believes the sale of North American's servicing system could cut about $1 million from acquisition ...