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NexTier Bank to acquire Mars Bank

Housing Wire

NexTier , the holding company of NexTier Bank , will acquire Mars Bancorp , the holding company of Mars Bank. The combined company and branch locations will operate under the NexTier Bank brand, both banks said in a release Thursday. With the acquisition, NexTier Bank will have total assets in excess of $2.6

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Fifth Third Bank unveils new warehouse lending business

Housing Wire

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The post Fifth Third Bank unveils new warehouse lending business appeared first on HousingWire.

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Former Fannie Mae chief named as CEO of Silicon Valley Bank N.A.

Housing Wire

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). The bank failed to raise capital to plug a $1.8

Banks 383
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Republic First Bank Collapse: The First Bank Failure of 2024

Marco Santarelli

The banking sector is often seen as a barometer for the broader economy , and the closure of a bank can send ripples through the financial community. In 2024 , the United States witnessed its first bank failure of the year with the closure of Republic First Bank.

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Flagstar Bank and the one-stop mortgage shop

Housing Wire

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 370
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Silicon Valley’s ‘bridge bank’ resumes mortgage originations 

Housing Wire

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers. venture-backed technology and healthcare companies.

Banks 370
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The Mortgage Collaborative launches emerging technology fund

Housing Wire

The Mortgage Collaborative, an independent cooperative network in the mortgage industry, today announced the launch of TMC Emerging Technology Fund LP, a venture capital program funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector.