Mortgage Banker Buys Houston Broker

Availent Financial Inc., a mortgage banking company based in Dallas, has announced the acquisition of "substantially all" the assets of First Texas Residential, a Houston-based mortgage brokerage firm.The details of the transaction were not disclosed, but Availent said the purchase price was largely paid with a promissory note maturing on Feb. 1. "First Texas provides us with a significant presence in the Houston market along with strategic relationships with real estate brokerage firms and developers," said Patrick A. McGeeney, president and chief executive officer of Availent. The company can be found on the Web at http://www.availentfinancial.com.