new jersey home equity loan
Fitch Affirms GreenPoint Mortgage's Alt-A and HE/HELOC Resi ...
NEW YORK--(BUSINESS WIRE)--July 12, 2006--Fitch Ratings affirms GreenPoint Mortgage Funding Inc.'s (GPM) residential primary servicer ratings for Alt-A and home equity/home equity lines of credit (HE/HELOC) loans at 'RPS2'. The ratings are based on the company's experienced management team, established technology, and expanded training programs. The ratings also reflect the financial strength of GPM's parent, North Fork Bancorporation (North Fork), which is rated 'A-', Rating Watch Negative by Fitch.
Headquartered in Novato, California, GPM is a wholly owned subsidiary of North Fork Bank, a regional bank holding company. North Fork conducts commercial and retail banking from 358 branches throughout the New York metropolitan area, Connecticut and New Jersey and is headquartered in New York.
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N.J. banks building bigger portfolios of construction, development loans
With home equity lending slowing down, New Jersey banks are increasingly counting on short-term loans to builders.
In the 12-month period ended March 31, construction loan portfolios at New Jersey-based banks were up 41 percent compared with the year-prior period, according to a Federal Deposit Insurance Corp. report released Thursday.
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