FT Mortgage Cos., Dallas, has agreed to buy the Seattle-based Keystone Mortgage in a stock transaction, Keystone has announced.The terms of the deal were not disclosed. FT Mortgage already has a major presence in the Washington market as a result of its 1994 acquisition of Emerald Mortgage, Keystone noted. The combination of Keystone's and Emerald's origination volumes will make FT Mortgage the fourth largest residential lending institution in the Puget Sound area, Keystone said. FT Mortgage ranked ninth in the U.S. in retail loan originations in the first quarter with $2.413 billion, according to the Database Products Group, a MortgageWire affiliate.
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