United Financial Mortgage Corp., Oak Brook, Ill., has announced an agreement to acquire Portland Mortgage Co., a privately held retail and wholesale mortgage banker based in Portland, Ore.The terms of the deal were not disclosed. Ron Rudy, the founder of Portland Mortgage, will remain as president of the company. Portland Mortgage originated $476 million in mortgage loans in 2002, UFMC said. "This acquisition will provide us with greater visibility in the Northwestern United States while adding significantly to our revenues and net income," said Steve Khoshabe, UFMC's president and chief executive officer. UFMC can be found on the Internet at http://www.ufmc.com.
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