Principal Financial Group is expected to announce today that it has acquired a 60% ownership interest in a Chilean mortgage lender, Andueza y Cia, Agentes de Mutuos Hipotecarios SA.

The Chilean company services $30 million of Chilean home loans, but Principal expects that figure to double by next year. The U.S. insurance giant will put its mortgage banking unit, Principal Residential Mortgage Inc., in charge of Andueza.

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.