COLUMBIA, S.C. -- Fleet Mortgage Group said it completed the previously announced acquisition of $817 million in mortgage loan servicing from Meridian Mortgage Corp.

Fleet's South Carolina-based unit was the largest servicer in the country last quarter, with more than $63 billion in its portfolio.

The new servicing includes 7,847 conventional mortgage loans with an average size of $104,000. The weighted average interest rate is 7.84%, the weighted remaining term of the portfolio 273 months, and the delinquency rate under 0.5%.

No price was announced, but recent transactions suggest such a portfolio would sell for $10 million or more.

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