NEW YORK - DLJ Mortgage Capital Inc., a subsidiary of Donaldson, Lufkin & Jenrette Inc., has agreed to buy up to $100 million of loans from StarNet Financial's mortgage unit, StarNet Mortgage Inc.
Under terms of the agreement announced last week, the DLJ unit is to buy "A" quality, jumbo loans as well as "A-minus" and "Alternative-A" mortgages.
"This will allow us to offer additional products to our customers," said Ken Urbanus, president and chief operating officer of StarNet Financial.