Huntington Expands Commercial Banking with New Mortgage Sector
New Advancements in Huntington National Bank's Offerings
The Huntington National Bank has made a significant move by launching a corporate mortgage finance business as part of its commercial banking services. This strategic addition aims to cater to the specific requirements of mortgage servicers and originators, providing them with specialized financial solutions.
Enhancing Financial Services for Mortgage Professionals
This new initiative follows the establishment of a specialized mortgage solutions team at Huntington. This group focuses on delivering customized cash and treasury management services to a range of clients, including mortgage originators, title companies, private equity firms, hedge funds, and property management entities.
Huntington is committed to supporting the mortgage ecosystem, offering capital markets, fund finance, and various other products tailored to meet the needs of these businesses.
Leadership Steering the Mortgage Finance Team
The corporate mortgage finance business will be directed by Ken Logan, a seasoned expert in mortgage finance, boasting over 35 years of industry experience. Prior to joining Huntington as the senior managing director, Logan spent 12 years at Wells Fargo and contributed his expertise at Signature Bank.
Tizu Menelik, the executive managing director of corporate, specialty, and government banking at Huntington, expressed the bank's commitment by stating, "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."
Strengthening the Framework of the Mortgage Ecosystem
Scott Kleinman, president of Huntington Commercial Bank, emphasized the importance of this expansion in enhancing the bank's ability to support the financial needs of businesses within the mortgage environment. This initiative is one of many the bank has undertaken recently to broaden its commercial banking operations.
In addition to its foray into the corporate mortgage finance sector, Huntington has also enhanced its commercial banking presence in other regions, including the Carolinas and Texas, while developing new specialty areas such as fund finance and healthcare asset-based lending.
About Huntington Bancshares Incorporated
Huntington Bancshares Incorporated represents a robust regional bank holding company with assets totaling approximately $196 billion. Founded in 1866 and headquartered in Columbus, Ohio, Huntington National Bank provides a comprehensive array of banking services designed for consumers, small to middle-market businesses, corporations, municipalities, and various organizations.
The bank operates around 970 branches across 11 states, offering an extensive suite of banking, payments, wealth management, and risk management products and services. To learn more, visit Huntington.com.
Frequently Asked Questions
What is the purpose of Huntington's new corporate mortgage finance business?
The new corporate mortgage finance business aims to provide tailored funding and liquidity solutions for mortgage originators and servicers.
Who leads the new mortgage finance team at Huntington?
The team will be led by Ken Logan, a professional with over 35 years of experience in the mortgage finance industry.
What services does Huntington offer to mortgage servicers?
Huntington provides customized cash management, treasury services, capital markets, and fund finance solutions to mortgage servicers and originators.
How does Huntington's expansion affect its market reach?
This expansion, along with other regional growth initiatives, strengthens Huntington's presence in the mortgage finance sector and enhances its service offerings.
Where can I find more information about Huntington Bancshares?
More information about Huntington Bancshares can be found on their official website, Huntington.com.
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