The Real Deal New York

Wells Fargo launches banking group to serve residential developers

August 16, 2012 05:30PM

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