By Nina Lincoff
Two local banks closed a mutually beneficial deal earlier this year, marking the healthy return of South Florida’s mortgage climate. Miami-based Pacific National Bank purchased 72 mortgages from Coral Gables-based BAC Florida Bank as part of its three-year strategic plan in April.
The mortgage transaction was recorded in Miami-Dade and Broward County court records.
“We sold them $21 million in loans,” said Frank Robleto, president and CEO of BAC Florida.
The Coral Gables bank has long had… …read more
From:: biz journal foreclosures