Mellon Mortgage Co., Houston, moving to increase its presence in new markets and expand its servicing portfolio, has struck a deal to buy Metropolitan Life Insurance Co.'s mortgage unit, Metmor.

The deal, priced at $165 million, will bring the Mellon Bank Corp. unit's servicing portfolio of residential and commercial loans to $45 billion. Metmor, based in Overland Park, Kan., services over $13 billion in loans.

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