BNC Mortgage Inc. reported Thursday that it has secured a $50 million warehouse credit and security agreement with Bank United, Houston.

The committed facility supplies warehousing for conventional, subprime, and second mortgage loans. It expires Feb. 1, 2000.

BNC also said it is in discussions with several other institutions for an additional $150 million to provide warehousing for growth in its subprime division and the acquisition of America's Lender. It said this deal is expected to close by Feb. 28.

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