Market Street Mortgage, Clearwater, Fla., has acquired Memorial Park Mortgage Ltd., a Houston-based mortgage lender.Financial terms were not disclosed. Market Street is the retail mortgage subsidiary of NetBank, Atlanta, and the deal adds to the companies' strategic plan to build a broader presence in the Southwest. Memorial Park Mortgage's founder and chief executive, Mark Cady, will manage Market Street's Texas operations. For the remainder of this year, the unit will continue to operate under the Memorial Park name. Market Street said it would continue to pursue select retail branch acquisitions.
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