AME Financial, a San Diego-based mortgage lender, has reported the sale of the majority of its Wholesale Lending Division to Universal Savings Bank, Milwaukee.The terms of the sale were not disclosed. The wholesale unit has branches in St. Louis; Sacramento and Temecula, Calif.; and Phoenix and Anthem, Ariz. Judy Dunham, AME's chief executive officer, said the transaction "enhances AME's ability to focus on its core business -- retail lending. We have grown consistently over the past two decades and want to accelerate our expansion in the retail arena."
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