NEW YORK J.P. Morgan Chase & Co. said Thursday that it has acquired Colson Services Corp., a financial record keeping business for government-guaranteed and nonguaranteed loan programs.
Terms of the purchase were not disclosed.
Colson Services will operate as a unit of Morgan Chase within its institutional trust services division, formerly Chase Capital Markets Fiduciary Services.
Colson Services, founded in 1987, services 85,000 secondary-market loans with an outstanding value of more than $30 billion.