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The nation's fourth-largest mortgage broker, 1st Metropolitan Mortgage here, is acquiring the retail production offices of the second-largest mortgage broker, Olympia Funding, Pleasanton, Calif.
Olympia Funding had 48 branches and loan volume of $3.5 billion in 2004 according to the SourceMedia 2005 Loan Broker Database. The same source has 1st Metropolitan with $2.84 billion in volume in 2004. The combination's pro-forma total of $6.3 billion is still far behind the nation's largest broker by volume, Allied Home Mortgage Capital Corp., Houston, which did $12 billion last year. The full list...