The Real Deal Miami

Great Florida gets into mortgages

November 10, 2008 10:38AM

Great Florida Bank will enter the residential lending market to
capitalize on the bank’s newly obtained approval to make Federal
Housing Administration loans. It will add 32 new associates to begin
its expansion. Managing Director Ed Wilburn said the bank is taking the
opportunity to get into residential lending when everybody else is
getting out because the bank believes rigorous lending standards will
prevent problems. Great Florida has 28 branches in the region. As an
authorized FHA lender, the bank is able to make home mortgage loans to
customers with a lower down payment requirement than conventional loans.