JPMorgan to Buy Almost $2 Billion of Mortgages in PacWest Deal
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JPMorgan Chase & Co. will buy almost $2 billion worth of mortgages to facilitate Banc of California Inc.’s purchase of PacWest Bancorp.
The nation’s largest bank has entered into an agreement to buy $1.8 billion of single-family residential loans at a discount, according to people briefed on the matter who asked not to be identified discussing private information.