Norwest Mortgage Inc., the nation's largest originator, agreed to buy the prime mortgage origination and escrow businesses of WMC Mortgage Corp.

Norwest is buying 46 mortgage branches and 17 escrow offices where about 750 people are employed. Terms of the deal were not disclosed but investment bankers valued the transaction at about $20 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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