Tag: New York Community Bank
FDIC To Gradually Auction $114B In MBS Seized From Failed Banks
FDIC To Gradually Auction $114B In MBS Seized From Failed Signature Bank and Silicon Valley Bank The FDIC has decided to sell a portfolio of $114 billion in mortgage-backed securities (MBS). The FDIC seized control of the MBS portfolios after taking control of Signature Bank and Silicon Valley Bank. The face values of SVB’s portfolio is approximately…
New York Community Bank Is ‘Restructuring’ Mortgage Operations
New York Community Bank Says It Will Eliminate 69% Of It’s Mortgage Lending Offices After Merger With Flagstar Bank New York Community Bank announced Tuesday it is “restructuring” its mortgage operations. Insiders translate that as the bank closing over two-thirds of it’s mortgage lending offices. The also announcement comes after NYCB completed it’s merger with…