Chase Manhattan Mortgage Corp. is making a big expansion move by buying $19.3 billion in servicing rights even as it reportedly struggles to integrate its Chase and Chemical units.

Industry sources said the move is a vote of confidence for Chase Manhattan Corp.'s mortgage unit. Chase is making a significant investment - estimated at $250 million to $300 million based on recent transactions - even though it hasn't completely finished merging the servicing operations of the former Chase and Chemical mortgage companies.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.