Clear Choice to Buy Allstate Home Loans

Clear Choice Financial Inc., Tempe, Ariz., has announced the execution of a letter of intent to acquire Allstate Home Loans Inc., an Irvine, Calif.-based wholesale and retail mortgage provider.The terms of the proposed acquisition were not disclosed. The privately held Allstate offers a variety of mortgage products ranging from subprime and alternative-A through conventional loans and is licensed to operate in 27 states, Clear Choice said. Clear Choice specializes in helping consumers with unsecured debt through a debt resolution business unit. The companies can be found on the Web at http://www.clearchoicecorp.com and http://www.allstatefundsloans.com.