Wilshire Financial Services Group Inc. said it bought most of the assets of Funders Mortgage Corp., a Covina, Calif.-based residential mortgage loan originator.

Funders Mortgage Corporation is a multistate retail mortgage origination company specializing in government, conventional, and jumbo single-family mortgage lending. As part of the purchase, Wilshire acquired 11 branch offices in California, Nevada, and Illinois, along with servicing rights to $38 million in loans.

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