Irwin Financial Sells CU MortgageBusiness
INDIANAPOLIS - (03/15/05) -- Irwin Financial Corp. said Monday ithas agreed to sell its private label credit union mortgagebusiness, as well as its branches in Arizona, California, Colorado,Hawaii and Washington to American Home Mortgage Corp. The creditunion business markets mortgage loans through salespeople locatedonsite at about 50 credit unions. As part of the deal, AmericanHome will extend employment to Irwin Mortgage employees at theacquired locations. Terms of the deal were not disclosed.Mellville, N.Y.-based American Home Mortgage is a unit of AmericanHome Investment Corp.