TierOne Corp., Lincoln, Neb., has announced the sale by TierOne Bank of a $63.8 million portfolio consisting primarily of delinquent residential construction loans in Florida. The more than 300 loans in the portfolio were originated primarily by TransLand Financial Services, a Florida-based mortgage brokerage, and chiefly involve single-family properties in the Cape Coral area of southwest Florida. TierOne said it does not expect to take "any material additional charge" as a result of the sale. The bank can be found on the Web at https://www.tieronebank.com.
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