NEW YORK, June 22 (UPI) -- Barclays Bank PLC is paying $469 million to Wachovia Corp. to buy the U.S. mortgage servicing business of HomEq Servicing Corp.
Barclays will finance the transaction out of existing cash resources, the British financial institution said Thursday.
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It also said it sees the deal as an opportunity to "grow our existing U.S. mortgage securitization franchise."