IMN Financial Corp. a full-service mortgage banking company, recently said it had bought American National Mortgage Co., a New Jersey-based lender with nine banking offices in Illinois, Georgia, Florida, and New Jersey. Terms of the transaction were not disclosed.

The deal expands IMN's network to 16 states.

American National specializes in residential mortgages and generates approximately $120 million in annual closings.

Edward R. Capuano, president of IMN Financial, said IMN expects to generate $500 million of mortgages over the next 12 months. He said the deal was IMN's sixth acquisition in 1997.

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