PDL Community Bancorp To Acquire Mortgage World Bankers – NMP Skip to main content

PDL Community Bancorp To Acquire Mortgage World Bankers

Jun 09, 2020
Handshake sealing the deal. Credit: iStock.com/PeopleImages
Director of Events

PDL Community Bancorp, the holding company for Ponce Bank, received approval from the New York State Department of Financial Services to acquire 100% of the stock of Astoria, N.Y.-based mortgage banking company, Mortgage World Bankers Inc. (MWB).
 
Michael Lagoudis will continue to manage MWB’s operations as its president and CEO, and will become an SVP of the company. Stephanos Lagoudis will continue to assist MWB in a consulting capacity. Steven A. Tsavaris, executive chairman of the company, will become the chairman; and Carlos P. Naudon, president and CEO of the company, will become a director of MWB. The acquisition is expected to close on or about July 1, 2020, according to a press release
 
"This purchase will enhance our mortgage origination capacity, enable us to offer more competitive consumer mortgage products in our communities, give us an experienced and established channel to the secondary markets, and expand our reach into additional communities. Further, we expect the transaction will be accretive well within 18 months," said Naudon.
 
Click here to learn more about the acquisition.

 
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jun 09, 2020
Trump Names FHFA Director Bill Pulte Acting Director Of National Intelligence

FHFA director will continue overseeing Fannie Mae and Freddie Mac while serving as acting director of national intelligence

Jun 02, 2026
Realtor.com Launches AI Home Search Platform Built With Google

New RealAssist tool combines AI, affordability guidance and Google Maps data to engage buyers before they reach lenders

Jun 02, 2026
Another MLS Challenges Zillow In Fight Over Listing Visibility

Realtracs joins MRED in pushing back on Zillow's listing policies, a battle with potential implications for the broader homebuying and mortgage ecosystem

May 29, 2026
Gas Prices Are Quietly Reshaping Homebuyer Affordability

Rocket Money data suggests rising fuel costs are adding pressure to already payment-sensitive buyers as mortgage rates remain elevated

May 28, 2026
MISMO Targets Costly TRID Fee Cures With New Mortgage Fee Standardization Framework

MBA’s standards organization says inconsistent fee naming still drives costly redisclosures and rework, with fee-related cures affecting more than 30% of mortgage loans

May 27, 2026
Zillow-Compass Fight Raises Bigger Questions About The Future Of Mortgage Lead Distribution

Legal battle over private listings and MLS access highlights growing competition to control the homebuyer relationship before borrowers reach a loan originator

May 21, 2026