With interest rates up, lending volumes down, and the industry in a tizzy, big mortgage companies are seizing opportunities to buy smaller originators.

Last week, National City Mortgage bought the assets of Accubanc Mortgage Corp., a Dallas lender, from Los Angeles-based Pueblo Corp. Meanwhile, FT Mortgage Cos., a unit of First Tennessee, bought Elliot Ames Mortgage, a small outfit based in Los Altos, Calif.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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