Capital Markets Cooperative and Bank of Internet entered into a strategic alliance to offer CMC clients specialized jumbo loan products. CMC is a mortgage originator as well as a mortgage capital markets firm that provides consolatory and advisory services. Bank of Internet is a nationwide savings bank with $1.6 billion in assets that operates primarily through the Internet. It is a prominent buyer of portfolio jumbo loans. CMC President Tom Millon said the alliance is especially exciting because Bank of Internet is a CMC patron. “True to the spirit of our cooperative, we’re offering solutions by our members, for our members,” Millon said. CMC recently entered into an investment deal priced at $100 million with private equity firm WL Ross & Co. Both Millon and Wilbur Ross sat down with HousingWire to discuss the venture in the January issue of the magazine. Get a sneak peek here. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.
Capital Markets Cooperative and Bank of Internet form strategic alliance
Most Popular Articles
Latest Articles
The best real estate podcasts for agents and brokers in 2024
The best real estate podcasts to motivate, inspire, entertain and enlighten you this year.
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program
-
Retirement confidence hasn’t fully recovered, but survey shows hope for future prospects