Wednesday, August 15, 2007

The Commerce Group shuts down its mortgage lending unit, Bay Finance (WPRI 12 Providence)

WEBSTER, Mass. (AP) - Bay Finance Company -- the mortgage lending subsidiary of The Commerce Group -- will stop originating loans immediately. The Webster-based Commerce Group intends to retain the existing loan portfolio, valued at about $20 million.

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[Source: Yahoo! News Search Results for finance]

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