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PSM to acquire Iowa Mortgage


Minnesota-based PSM Holdings Inc. has entered into a letter of intent to purchase Des Moines-based Iowa Mortgage Professionals Inc. Iowa Mortgage will be acquired by UCMC, a subsidiary of Prime Source Mortgage Inc., whose parent company is PSM.

The closing of the transaction is tentatively scheduled for Oct. 1, though it is subject to further negotiations. To see a video of PSM CEO Ron Hanna discussing the acquisition, click here.

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