Capital One Buys Beech Street's $10B Gov't Loan Portfolio

Law360, New York (August 19, 2013, 6:17 PM EDT) -- Virginia lender Capital One Financial Corp. has agreed to acquire Beech Street Capital, an originator and servicer of Fannie Mae and Freddie Mac loans, and its roughly $10 billion loan portfolio, Capital One announced Friday.

Beech Street, which works with the government mortgage lending giants as well as the Federal Housing Administration, originated roughly $4 billion in loans in 2012. The combination of Capital One's existing multifamily platform and Beech Street's operations will make the McLean, Va.-based company a top five U.S. multifamily originator, Capital One...
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