U.S.Mortgage Finance LLC purchased a $120 million portfolio of residential mortgage loans originated by BAC Florida Bank, the company announced today. The purchase was arrainged by WestLB. The portfolio consists primarilly of mortgage loans made to foreign nationals living in the U.S.

"WestLB, U.S. Mortgage and BAC Florida Bank worked together to develop a unique solution that greatly enhances BAC's ability to grow their mortgage origination business," said James McPartlan, managing director and head of structured and corporate finance for WestLB North America.

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