Oriental Financial Group, Primerica Form Mortgage Alliance

By Jennifer Hodson
Dow Jones Newswires, January 29, 2008

Oriental Financial Group Inc. (OFG) and Citigroup Inc.'s (C) Primerica Financial Services formed an alliance in which Oriental will supply a mortgage platform and related services for Primerica's program to market home loans in Puerto Rico.

Oriental Financial, a San Juan financial holding company, said the Primerica deal will provide a new distribution channel for its mortgages.

Oriental Financial said it doesn't own or originate subprime single-family home loans.