NexBank Launches Warehouse Lending Program
[Update 1: Corrects headline, ticker symbol, and clarifies NexBank's description] NexBank announced Friday the launch of a new warehouse lending program designed to give small and medium sized banks as well as large mortgage brokers the capacity and flexibility to grow and compete for business. NexBank, a Dallas-based bank that specializes in commercial real estate and specialty financing, following firms such as BB&T (BBT) and Sterling Bancorp () in the introduction of a warehouse lending operation despite many companies deciding to do the opposite due to lack of credit. The company reported seeing an increase in the number of mortgage brokers in the market who are becoming bankers by obtaining warehouse lines of credit. NexBank plans on being a primary source for those bankers to borrow from, it said in a press statement. "NexBank has realized an overwhelming positive response from our current clients as well as new customers to participate in this lending program," said Jed Meaux, vice president and head of NexBank's mortgage division. "With this new warehouse line of credit, our customers can significantly impact their profitability and increase their agility in the marketplace." Write to Christine Ricciardi. The author holds no relevant investments.