Sterling Bancorp (STL) Acquires NYC-Based Mortgage Company
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Sterling Bancorp (NYSE: STL) reports that its wholly-owned, New York City-based subsidiary, Sterling National Bank, has acquired the business of Universal Mortgage, Inc., a leading residential mortgage broker in Brooklyn with offices in Brooklyn Heights and Park Slope. Universal's principals and their team, most of whom are engaged in mortgage production, will join Sterling.
The acquisition is effective immediately. Terms of the transaction were not disclosed.
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The acquisition is effective immediately. Terms of the transaction were not disclosed.
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