Prudential Gets Credit
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Prudential Home Mortgage, which has a large home-loan office in Costa Mesa, said Tuesday that it has received a $3-billion unsecured line of credit. The St. Louis-based mortgage bank said it believes that this is the largest credit line of its kind ever arranged in the mortgage industry. It was made by a consortium of 42 banks in the United States and abroad, and it allows Prudential to increase its mortgage lending.
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