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New York Community Bancorp Inc. Message Board

  • rtylinski Jan 15, 2012 10:19 AM Flag

    Metlife Mortgage Business

    Is this a good fit for NYB?

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    • No. NYB is interested in multi-family, rent-controlled mortgage lending. MetLife does not engage in this type of niche lending. Therefore, NYB would not be interested in purchasing their business. NYB is interested in purchasing other banks, for the purpose of obtaining more deposits, which would further fund their niche lending in the New York City area, but NYB does not typically purchase banks at a premium price nor does it purchase a bank that it financially stable on it's own. It would look to buy a bank "that is on it's way out," and could be picked up on the cheap - with any of the loans on the book being pawned off to another lender, prior to acquiring the indicated entity.

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