Transamerica Corp. has acquired Metropolitan Mortgage Co., a Florida company that specializes in subprime loans. Terms were not disclosed.

Metropolitan said Joseph L. Falk would remain as president and Judith Richard as chief operating officer. The two are the son and daughter of Metropolitan's founder, Walter Falk.

Joseph Falk said Metropolitan, which has 185 employees, expects to benefit from Transamerica's strength to expand its products and services.

Transamerica, San Francisco, offers specialized financial and life insurance products and services.

Westwood Capital LLC, New York, represented Metropolitan in the transaction.

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