Wachovia Securities to create wholesale lending unitMortgagePress.comMortgage wholesale lending programs
Wachovia Securities plans to create a wholesale lending
organization, by combining its American Mortgage Network Inc. and
Wachovia Mortgage Third Party Lending businesses.
The new unit will be called Wachovia Securities Wholesale
Mortgage and be a part of Wachovia Securities' corporate and
investment banking group. The effective date of the unified entity,
whose two component businesses totaled $19 billion in production in
2005, will be announced shortly.
Richmond, Va.-based Wachovia Securities, a non-bank affiliate of
Wachovia Corporation, is a provider of financial advisory,
brokerage, asset management and other financial services. For more
information, visit www.wachoviasec.com.