Chase Buys 26 Mellon Branches

Chase Manhattan Mortgage Corp., Edison, N.J., has agreed to acquire 26 branches that make up the Western retail origination network of Mellon Mortgage Co., Houston.Terms were not disclosed. Thomas M. Garvey, Chase's retail channel executive, said the deal will add $750 million to the company's retail volume and nearly double its production in Washington and Oregon. Chase will acquire offices in Washington, Oregon, Idaho, Nevada, Arizona, and New Mexico, as well as Mellon's regional operations center in Portland, Ore.

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