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MELLON AGREES TO PURCHASE MORTGAGE PORTFOLIO OF PERPETUAL SAVINGS BANK

 MELLON AGREES TO PURCHASE MORTGAGE PORTFOLIO
 OF PERPETUAL SAVINGS BANK
 HOUSTON, Sept. 1 /PRNewswire/ -- Mellon Mortgage Company, the mortgage banking subsidiary of Mellon Bank Corporation (NYSE: MEL), has agreed to purchase the mortgage servicing portfolio of Perpetual Savings Bank of Vienna, Va., from the Resolution Trust Corporation.
 This mortgage portfolio comprises 13,000 loans with principal concentrations in Virginia, Maryland and Washington, D.C. and totals nearly $1 billion. This transaction brings Mellon Mortgage Company's combined servicing portfolio to $14 billion with a total of 210,000 loans serviced by its Denver and Houston servicing centers.
 "This transaction reflects our commitment to growing our mortgage servicing business following the 1991 merger of our mortgage banking subsidiaries," said Peter Rzasnicki, executive vice president in charge of mortgage banking for Mellon. Rzasnicki noted that Mellon, in June, purchased the $2.6 billion mortgage servicing portfolio of CenTrust Mortgage Corporation.
 The Perpetual portfolio will be serviced by Mellon Mortgage Company's Denver Servicing Center.
 Mellon Mortgage Company, formed through the merger of Mellon Financial Services, headquartered in Denver, and Mortgage & Trust, Inc., headquartered in Houston, was the nation's 24th largest mortgage servicer at June 30, 1991.
 With assets of approximately $30 billion, Mellon Bank Corporation, the parent company of Mellon Mortgage Company, is one of the nation's 25 largest bank holding companies.
 -0- 9/1/92
 /CONTACT: Debra DeCourcy of Mellon Bank, 412-234-5873/
 (MEL) CO: Mellon Mortgage Company; Mellon Bank Corporation ST: Texas, Virginia IN: FIN SU:


CD -- PG005 -- 5364 09/01/92 10:55 EDT
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Publication:PR Newswire
Date:Sep 1, 1992
Words:252
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