The Federal Savings Bank has taken over one of the real estate joint ventures Wells Fargo ended last year, a partnership with New York/Long Island residential brokerage giant Douglas Elliman.

"Our goal is to originate about $3 billion to $5 billion through the relationship, and we believe that will represent about 50% of the next 12 months' volume for the bank," Stephen Calk, the bank's founder, chairman and chief executive officer, told this publication.

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