Flagstar Expanding CRE Ops

Flagstar Bank, Troy, Mich., has announced the expansion of its commercial real estate lending operations to 16 additional states, mostly in the West, the Midwest, and the South.Flagstar said it expects to offer different forms of commercial real estate financing, including land development, construction, "permanent end-financing," and loan participations. "Over the years, we've developed an expertise in commercial real estate lending in the states where we have a banking presence," said Peter Smith, head of Flagstar's consumer and commercial lending operations. "Now we want to bring that expertise to other states." Traditionally, Flagstar Bank has had a presence in Michigan, Indiana, and Georgia. The bank said it expects its national network of residential mortgage brokers to be a good source of referrals, as they know "what the hot spots are for commercial real estate." Flagstar can be found online at http://www.flagstar.com.