Transamerica Financial Services Co. has completed the purchase of $1.03 billion of home equity loans from ITT Consumer Financial Corp.

The deal, which had been widely expected, represents a major expansion of Transamerica's home equity lending operation. Observers expect that Transamerica will try to sell additional loans to the borrowers in the 40,000 loans involved in the deal.

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.