Zion Bancorp (ZION) to acquire Fannie Mae and Freddie Mac business line from Basis Investment Group

"Zions Bancorporation, N.A. (NASDAQ: ZION) today announced that it has entered into a definitive agreement to acquire the agency lending business of Basis Multifamily Finance I, LLC, a subsidiary of Basis Investment Group ("Basis"), which includes its experienced team, access to agency lending programs, and all associated mortgage servicing rights. In connection with the acquisition, Zions and Basis have entered into a strategic partnership that will expand each respective company's real estate financing and capital formation efforts."