In Brief: First Town Buys Arcs' Houston Office

SECAUCUS, N.J. - First Town Mortgage Corp. has bought the Houston wholesale mortgage banking office of Arcs Mortgage Co.

Arcs, based in Calabasas, Calif., is a unit of Bank of New York Co. and is being disbanded.

Peter R. Norden, president of First Town, said his company also plans to expand into other regions west of the Mississippi through acquisitions of wholesale production.

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