Popular Inc., a Puerto Rico-based financial services company, has announced the acquisition of substantially all the assets of Infinity Mortgage Corp., Parsippany, N.J., for an undisclosed purchase price.The acquired operations -- which serve New York, Connecticut, Maryland, Massachusetts, and Pennsylvania as well as New Jersey -- are now part of Equity One Inc., a subsidiary of Popular Financial Holdings Inc., which is a Popular Inc. subsidiary based in Marlton, N.J. Popular Inc. said the transaction expands its penetration into the U.S. market and "will complement the company's existing nonprime mortgage lending business through direct mail." It will also enable the company to expand its loan servicing business, Popular said. The company can be found on the Web at http://www.popularinc.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry