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COMERICA MORTGAGE CORPORATION ACQUIRES FORTUNE FINANCIAL

 DETROIT, Nov. 19 ~PRNewswire~ -- Comerica Mortgage Corporation, Comerica Bank's mortgage banking subsidiary, has acquired select assets of Fortune Financial, a California-based mortgage brokerage firm. The terms of the acquisition were not disclosed. Fortune Financial had mortgage closings totaling over $175 million in 1991.
 Fortune Financial's name will be changed to Comerica Mortgage Corporation at a later date. The acquisition of Fortune Financial will provide Comerica Mortg ?Corporation a geographic base for serving customers of Comerica Bank-California, which is headquartered in San Jose and has offices in City of Industry, Encino, Fremont, Pleasanton, San Francisco and Sunnyvale.
 Joseph W. Lanam, president and founder of Fortune Financial, will manage the California region of Comerica Mortgage Corporation.
 Comerica Incorporated (NYSE: CMA) is a $27 billion asset bank holding company headquartered in Michigan. In addition to California, the corporation operates banks in Michigan, Texas, Illinois and Florida.
 -0- 11~19~92
 ~CONTACT: Kathleen A. Pitton of Comerica, 313-222-4916~
 (CMA)


CO: Comerica Incorporated; Comerica Mortgage Corporation;
 Fortune Financial ST: Michigan, California IN: FIN SU: TNM


SB -- DE013 -- 2807 11~19~92 10:58 EST
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Publication:PR Newswire
Date:Nov 19, 1992
Words:179
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