Regional lender New York Community Bancorp (NYCB.N), opens new tab said on Monday it had closed the sale of about $5.9 billion in mortgage warehouse loans to Wall Street giant JPMorgan Chase (JPM.N), opens new tab.
The bank said it expects to close on an additional $200 million of mortgage warehouse loans in the near future, once necessary customer approvals are received.
The deal bolsters NYCB’s liquidity and capital as the lender executes a crucial turnaround to return to profitability over the next two years.
Source: REUTER
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