MortgageBrokers.com announces franchise opportunities

National Mortgage Professional

Oct 27, 2005

Wachovia acquires AmNetMortgagePress.comWachovia Corporation, AmNet Mortgage Inc., acquisitions Wachovia Corporation has announced that it will acquire AmNet Mortgage Inc. for $83 million. AmNet's board of directors has approved the proposed merger and has agreed to recommend that the company's stockholders vote to approve it. AmNet, which will remain headquartered in San Diego, will operate as a wholly-owned subsidiary of Wachovia Bank NA. The merger is expected to close in the fourth quarter of 2005. Wachovia will also continue to originate residential mortgages and home equity lines of credit through Wachovia Mortgage Corporation. The proposed merger is subject to customary conditions, including compliance with the pre-merger notification requirements of the Hart-Scott-Rodino Act and approval by AmNet Mortgage stockholders. Charlotte, N.C.-based Wachovia Corporation is a diversified financial services company that provides banking, asset management, wealth management and corporate and investment banking products and services. For more information, call (800) WACHOVIA or visit www.wachovia.com. Based in San Diego, AmNet Mortgage Inc. is a nationwide mortgage bank that operates in the wholesale and correspondent channels. For more information, call (888) 373-3974 or visit www.amnetmortgage.com.

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Oct 27, 2005

People On The Move

MBA Appoints Rachel Kelley Legislative Affairs VP

Kelley's focus will be on Republican members in the House.

The Mortgage Bankers Association appointed Rachel Kelley as its vice president of legislative affairs, with a focus on advocating MBA's legislative and policy priorities on Capitol Hill, particularly among Republican members of the U.S. House of Representatives. Kelley bring...

Analysis and Data

Mortgage Applications Inch Up 0.3%

Despite a 50 basis point decline in rates over past six weeks, purchase activity remained approximately 20% lower than the previous year.

Mortgage applications saw a marginal uptick of 0.3% for the week ending Nov. 24, 2023, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The results, however, have been adjusted to account for the Thanksgiving holiday. The ...