Two mortgage banks have found a kinder, gentler path to consolidation.

Banc One Mortgage, Indianapolis, plans to close its loan processing center in Phoenix. But rather than leave its 77 employees there out in the cold, the mortgage division of Banc One Corp. has found jobs for them with Norwest Mortgage, which is expanding its Phoenix operation.

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.