With its deal to buy Money Store, First Union Corp. is set to bulk up an already ample home equity lending business.

The Charlotte, N.C.-based bank has been making subprime mortgage loans for three and a half years through its First Union Home Equity Bank. Now that Money Store-one of the oldest companies in the business-is going to be under the First Union umbrella, bank executives are hoping to draw on the corporation's expertise.

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.