MANSFIELD, Mass - Farragut Mortgage Co. said it has completed its acquisition of Alta Mortgage Co., a privately held residential mortgage banker based in Martinez, Calif., for about $10 million.

The transaction diversifies New England-oriented Farragut geographically and "adds $920 million to our loan-servicing portfolio, bringing it to $2.5 billion, up from only $446 million when we went public in February of this year," said Farragut's president and chief executive officer, Edward D. Lagarde.

The acquisition was financed with a $10 million term loan from Bank of New York. The bank also led a syndicate providing a warehouse credit line of up to $100 million for loan originations, up from $5 million.

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