Carolina First acquires First Sun Mortgage Corp.

GREENVILLE, S.C. -- Carolina First Corp. has announced the acquisition of First Sun Mortgage Corp., a private company based in Columbia, S.C., that originates and services home loans.

Mack 1. Whittle Jr., president and chief executive officer of Carolina First, said: "With the historically low interest-rate environment, and the accompanying flurry of refinancing activity, it is an especially attractive time to be pursuing mortgage banking business."

First Sun's originations through August totaled about $17 million. It has a servicing portfolio of about $250 million.

Carolina First has a state-chartered commercial bank with 22 branches throughout South Carolina. It also owns a federal savings bank with eight branches in coastal South Carolina.

The two units' originations totaled $57.5 million through August, and they have been servicing about $250 million.

SAN DIEGO, Calif. -- American Residential Mortgage Corp. has announced the acquisition of Savage Mortgage Corp., Houston, Tex.

Savage had loan originations last year of $116 million. It has two offices in Houston and one in Lakeway, near Austin.

Bob Savage, president of Savage, will stay on as regional vice president.

"Texas is one of the most active real estate markets in the country, with appreciating home values and strong financing activity," said John Robbins, chief executive of American.

ENCINO, Calif. -- California United Bank, a unit of CU Bancorp, has agreed to sell much of its mortgage banking division to Republic Bancorp, Ann Arbor, Mich. The deal will include the loan-origination offices but not the servicing portfolio. The transaction is expected to close in the fourth quarter. The price was not disclosed.

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