Silverado Plans to Buy Fidelity Capitol

Silverado Financial, Beverly Hills, Calif., has signed a letter of intent to acquire Fidelity Capitol Financing Inc., a mortgage lender based in El Dorado Hills, Calif.The terms of the proposed deal were not disclosed. Silverado said the acquisition would be in keeping with its previously announced plan to restart mortgage operations. "Fidelity Capitol is an Equal Housing Lender, and management believes that it will be able to form the core of a newly invigorated financial services and real estate development company," Silverado said. The company said it also plans to acquire "other candidates in the mortgage service space." Silverado can be found on the Web at http://www.silveradofinancial.com, and Fidelity Capitol can be found at http://www.eldoradohillsloans.com.