New division provides funding to mortgage originators and servicers
Huntington National Bank has announced the launch of its new mortgage division, expanding its commercial banking offerings to serve mortgage originators and servicers.
The new division will offer customized funding and cash management solutions for mortgage originators and servicers. Huntington’s existing services in this area already include treasury management and capital markets solutions, catering to a variety of real estate companies, including title firms, private equity groups, and property managers.
Scott Kleinman, president of Huntington Commercial Bank, noted that this expansion will further enhance the bank’s ability to meet the financial needs of companies within the mortgage space.
“This expansion only strengthens our ability to meet the financial needs of companies that make up the mortgage ecosystem,” Kleinman said in the bank’s media release.
Ken Logan, a veteran with over 35 years of experience in mortgage finance, will lead the new division as senior managing director. Logan, who previously held leadership roles at Wells Fargo and Signature Bank, will oversee the expansion and development of the mortgage finance group.
Huntington is also hiring additional bankers to support the new division.
“We have built a broad set of best-in-class capabilities to serve mortgage originators and servicers backed by highly experienced leaders who uniquely understand clients’ needs,” said Tizu Menelik, executive managing director of corporate, specialty and government banking at Huntington.
This launch is part of Huntington’s broader growth strategy, which has recently seen the bank extend its commercial banking operations into new regions such as the Carolinas and Texas. The bank has also launched new specialty verticals, including fund finance and Native American financial services.
Huntington Bancshares, based in Columbus, Ohio, manages $196 billion in assets and operates around 970 branches across 11 states. The bank offers a full range of banking, wealth management, and risk management services to businesses and individuals.
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