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PNC will offer the loans through its branches, its PNC Advisors offices and its call center. The banks will split fees collected from the mortgages PNC originates.
PNC operates in nine states, including Virginia and Maryland, and the District.
Wells Fargo is the top U.S. originator of home-equity loans.
Both companies will provide start-up capital to fund the mortgage offerings, PNC said.
HOTELS
Choice Hotels Announces Stock Split
Choice Hotels International of Silver Spring announced a two-for-one stock split effective Oct. 21 to shareholders of record on Oct. 7. The company is a franchiser of lodging brands such as Comfort Suites, Quality and Clarion.
Shares closed at $61.93, up 8 cents.
Compiled from staff and news service reports.
