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Miscellaneous

Private Equity Buys Former CUNA Mutual Mortgage Operation

MAR 15, 2007 8:34pm ET

MT. LAUREL, N.J. – In the latest round of credit union takeovers, PHH Corp. announced yesterday it has agreed to be acquired by GE Capital for $1.8 billion, then to sell the company’s vast mortgage portfolio to private equity fund The Blackstone Group.

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