Wells Fargo launches banking group to serve residential developers

New York /
Aug.August 16, 2012 05:30 PM

Wells Fargo has organized a team of 14 bankers to run its new Homebuilder Banking team, designed to serve residential developers on the East Coast, in Texas, and and in the Midwest. The team will provide project and corporate financing facilities, a referral network to treasury management, and insurance, mortgage and capital markets products. Bird Anderson, who is based in Charlotte, N.C., will manage the newly formed group.

“We’re starting to see some modest signs of increased demand in the homebuilding sector in many markets,” said Anderson, in a press statement. “Our dedicated banking team is ready to help satisfy our homebuilder clients’ financial needs as the market begins its recovery.”

The San Francisco-based bank, which holds approximately $1.3 trillion in assets, is the largest mortgage lender in the U.S. As The Real Deal previously reported, Wells Fargo has been aggressively trying to increase its share of the NYC market. – Christopher Cameron


Related Articles

arrow_forward_ios
Ryan Serhant and Bess Friendman (Getty, Illustration by Shea Monahan for The Real Deal)
Real estate’s week of tumult and upheaval, large and small
Real estate’s week of tumult and upheaval, large and small
Wells Fargo puts the brakes on mortgage business
Wells Fargo puts the brakes on mortgage business
Wells Fargo puts the brakes on mortgage business
A photo illustration of Douglaston Development CEO Jed Resnick (Getty, NYC Department of Finance, LinkedIn/Jed Resnick)
Douglaston CEO sees 421a dead until 2026
Douglaston CEO sees 421a dead until 2026
Abandoned banks converted into offices
Developers circle abandoned banks for resi, flex-office conversions
Developers circle abandoned banks for resi, flex-office conversions
The Row hotel at 700 eighth avenue (Booking, Getty)
Foreclosure looms at struggling Row Hotel
Foreclosure looms at struggling Row Hotel
Carmel Partners' Ron Zeff and a rendering of the LIC project (Getty Images, Carmel Partners, Privcap)
Carmel Partners nabs $364M loan for Queens development
Carmel Partners nabs $364M loan for Queens development
JPMorgan Chase CEO Jamie Dimon (Photo-illustration by Paul Dilakian/The Real Deal, Getty Images)
Ranking New York City’s top real estate lenders
Ranking New York City’s top real estate lenders
Wells Fargo CEO Charles Scharf (Getty Images)
Wells Fargo backing off mortgage market
Wells Fargo backing off mortgage market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...