Citizens purchases Tenn. mortgage servicing company for $511M

CITIZENS BANK has entered into an agreement to acquire the assets of Tennessee-based Franklin American Mortgage, a mortgage servicing and origination firm, for $511 million. / BLOOMBERG FILE PHOTO/KELVIN MA
CITIZENS BANK has entered into an agreement to acquire the assets of Tennessee-based Franklin American Mortgage, a mortgage servicing and origination firm, for $511 million. / BLOOMBERG FILE PHOTO/KELVIN MA
PROVIDENCE – Citizens Financial Group Inc. has entered into an agreement to have Citizens Bank N.A. acquire the assets of Tennessee-based Franklin American Mortgage Co. for $511 million in cash, the company announced Thursday. Citizens said that as of March 31, Franklin American Mortgage managed $41.4 billion mortgage servicing portfolio, and that its assets had a…
To read the full story, Subscribe or
Subscribe to PBN
- Advertisement -