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COMERICA MORTGAGE CORPORATION TO ACQUIRE SELECT ASSETS OF EDGEMARK MORTGAGE CORPORATION

 DETROIT, Nov. 30 /PRNewswire/ -- Comerica Mortgage Corporation, Comerica Bank's mortgage banking subsidiary, will acquire select assets and liabilities of Edgemark Mortgage Corporation, an Illinois-based mortgage origination firm, effective Dec. 1, 1993. The terms of the acquisition were not disclosed. Edgemark Mortgage Corporation's mortgage closings are expected to total over $225 million in 1993.
 "Edgemark Mortgage's proven track record of success, wholesale lending expertise, focused marketing strategy and experience working with bank branches created an attractive strategic opportunity for Comerica Mortgage Corporation," said Peter Kehoe, senior vice president of Comerica Mortgage Corporation.
 The acquisition of Edgemark Mortgage is expected to enhance the service provided to customers of Comerica Bank-Illinois, which is headquartered in Morton Grove and has offices in Chicago, Addison, Barrington, Cicero, Glencoe, Franklin Park, Lake Zurich, Schiller Park, Skokie and Woodstock.
 Effective Dec. 1, Edgemark's mortgage operations will be conducted under the Comerica Mortgage Corporation name. Brad Springer, president of Edgemark Mortgage, will manage the Illinois region of Comerica Mortgage Corporation.
 Comerica Incorporated (NYSE: CMA) is a $28.5 billion asset bank holding company headquartered in Michigan. In addition to Illinois, the corporation operates banks in Michigan, California, Texas and Florida.
 -0- 11/30/93
 /CONTACT: Sharon R. McMurray, 313-222-4881, or Kathleen A. Pitton, 313-222-4916, both of Comerica/
 (CMA)


CO: Comerica Mortgage Corporation; Edgemark Mortgage Corporation;
 Comerica Incorporated ST: Michigan, Illinois IN: FIN SU: TNM


ML -- DE011 -- 8838 11/30/93 15:01 EST
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Publication:PR Newswire
Date:Nov 30, 1993
Words:235
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