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Home » Store » News » Eyeing Servicing, Chase Buys Advanta’s B&C Loan Unit

Eyeing Servicing, Chase Buys Advanta’s B&C Loan Unit

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The allure, and profit potential, of the subprime servicing business was apparently too much for one banking giant to pass up. As widely speculated, Chase Manhattan Mortgage kicked off the new year with the announcement that it plans to buy the mortgage unit of subprime lender Advanta. While the announcement didn’t necessarily surprise anyone, Chase had been rumored to be the primary suitor almost from the moment Advanta said it was negotiating a
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