Royal Bank Sells U.S. Mortgage Unit to New Century - 2005-05-27
Royal Bank of Canada, the country's largest lender by assets, agreed to sell its unprofitable U.S. mortgage unit to New Century Financial Corp. for as much as $109 million, as the Canadian bank scales backs its U.S. business.

The cash acquisition will add about 135 branches to New Century's network, the Irvine, California-based mortgage lender said today in a statement.
Read the full story at Bloomberg

Mortgage Venture Targets Latinos - 2005-05-27
Countrywide Financial Corp. unveiled a venture Thursday to expand mortgage lending to the Southland's Latinos, amid criticism that it and other lenders aren't adequately serving that fast-growing community.

The Calabasas-based company, the nation's biggest mortgage lender, said it would provide home loans through a bank owned by TELACU, a nonprofit economic development corporation based in East Los Angeles.
Read the full story at Los Angeles Times