In Brief: Conn. Thrift Expands Its Servicing Portfolio

Nutmeg Federal Savings and Loan Association in Danbury, Conn., said last week that it will service more than 3,000 first mortgages generated by two other institutions.

The $113 million-asset thrift will collect payments on the portfolios of York (Pa.) Federal Savings and Loan Association and Citizens Bank in Providence, R.I. Combined, the portfolios are valued at about $214 million.

The transfer is expected to take place during the second quarter. The new contracts would increase its portfolio of servicing other banks' loans to about $772 million. Its entire servicing portolio, including its own loans, totals $864 million in 9,459 loans. - Louis Whiteman

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER