For instance, customers can log on and access any of the 22 account services the bank offers, from its brokerage to its mortgage lending division.

Twelve years later, it sold or spun them both off, along with a mortgage division.

An insurance division was added in 1922, followed by a mortgage division in 1923.

The subsidiary's mortgage division writes $600 million to $800 million in mortgages each year.

A severe housing shortage prompted the introduction of state funding for housing mortgages implemented through Landsbanki's mortgage division to help rectify the situation.

This is the second mortgage division to be named PNC Mortgage.

But Mr. Voute denied that he planned to leave and the firm announced that he was assuming control of the mortgage division.

Even if no fee is attached to the arrangement the agency may still gain extra business for its mortgage lending division.

He said the capital injection would stabilise the business and enable it to pursue strategic options for the mortgage division.

"It is a paradox we must deal with," said Walter T. Bond, a vice president in charge of Carver's mortgage division.