Flagstar’s 2Q Earnings Boosted by Branch, Warehouse Deals
National Mortgage News, July 24, 2018–Chental-Song Bembry (subscription)
The $18.1 billion-asset company said Tuesday that its net income in the second quarter climbed 22% from the same period last year to $50 million, thanks largely to assets it inherited when it acquired the warehouse lending portfolio of Santander Bank and eight California bank branches from East West Bank in Pasadena, Calif. Both deals closed late in the first quarter.
