Flagstar Acquires Santander’s Warehouse Portfolio

Phil Hall

Feb 23, 2018

Flagstar Bancorp Inc. has announced that its wholly-owned subsidiary Flagstar Bank FSB is acquiring a mortgage warehouse loan portfolio from Santander Bank.

The financial terms of the transaction were not disclosed, but the Flagstar stated it will hire Santander’s existing relationship managers. The acquisition is expected to close in the first quarter of 2018.

"We are pleased to welcome the Santander warehouse lending team to Flagstar," said Alessandro DiNello, President and Chief Executive Officer at Troy, Mich.-based Flagstar Bancorp Inc. "We've been a warehouse lender for over 20 years and are excited about the opportunity to strengthen and diversify our mortgage warehouse business. It also allows us to leverage our experience and bring our quality service to more customers in the mortgage marketplace. For our new customers, it means more product choices, including eNotes."

Link copied

Published

Feb 23, 2018

Community

Nominations Open for Lone Star LO Magazine's Mortgage Masters

Lone Star LO Magazine is looking to recognize the originators who have mastered their craft.

2023 has been a year like no other. You're working hard and getting it done. It's time to celebrate your achievements. Nominate yourself or someone you know to be recognized in Lone Star LO Magazine's inaugural class of Mortgage Masters. Lone Star LO Magazine is l...

Analysis and Data

Home Prices Continue To Rise

Both FHFA, S&P CoreLogic Case-Shiller indexes show year-over-year, month-over-month increases.

Two different indexes released Tuesday show that home prices continue to increase. The Federal Housing Finance Agency (FHFA) House Price Index showed that prices nationwide in the first quarter of 2023 were up 4.3% from the same quarter a year earlier. It was the 45th-cons...