TIAA-CREF said yesterday that its  savings bank subsidiary can now expand its banking services, including orinating mortgages and investing in MBS, according to the charlotteobserver.com.

The firm's savings bank can now offer "deposit and loan products." It also intends to originate mortgages and invest in MBS, the report said, citing a regulatory filing from the Office of Thrift Supervision (OTS).

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