Norwest Corp. has bought a leading player in the fast-growing business of making federally insured home improvement loans.

Terms of the deal for Statewide Mortgage were not disclosed. The company, based in Birmingham, Ala., originated $115 million of Title I home improvement loans in 1996, placing it third in the field.

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.