MINNEAPOLIS - Norwest Bank Minnesota has agreed to buy the mortgage securities administration business of Ryland Group Inc.'s mortgage subsidiary.

The purchase price will be $47 million in cash, subject to certain adjustments. The transaction is expected to close in the second or third quarter.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.