The parent company of Webster Bank has acquired a $242 million residential mortgage portfolio that consists of loans to hundreds of Greater Boston homeowners.

Connecticut-based Webster Financial Corp. (NYSE: WBS) bought the loans with a goal of using them to develop relationships with “the 500 high-quality customers in and around the Boston area” whose mortgages make up the portfolio, Webster Chief Financial Officer Glenn MacInnes said during an earnings call this week.

Webster entered southeastern…

Boston Biz Journal https://www.bizjournals.com/boston/news/2019/04/22/webster-buys-242m-in-mortgages-to-boost-boston.html?ana=RSS&s=article_search