Fortune buys rights from Dominion unit.

August 18, 1992, 1:00 a.m. EDT 1 Min Read

CLEARWATER, Fla. - Fortune Bank said it has purchased the servicing rights for 3,700 single-family mortgage loans, totaling $400 million, from Dominion Bankshares Mortgage Corp. of McLean, Va.

The mortgages, originated in the middle Atlantic region, are serviced on behalf of the Federal Home Loan Mortgage Corp. They increased Fortune's servicing portfolio to $3.2 billion.

Fortune Bank, the former Fortune Savings Bank, has $2.5 billion in assets and is looking to boost fee income through mortgage servicing, said executive vice president Hugh J. Shaw.

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