Flagstar Bank ended the year with $1.87 billion of outstanding warehouse commitments, a 23% jump from the same period a year ago, according to survey figures.
The Troy, Mich.-based thrift also increased the number of nonbank warehouse customers it serves to 272 firms, from 214, a 27% improvement.
The warehouse sector has turned around dramatically over the past year with several new entrants – mostly regional and community banks – entering the fold.
Among warehouse lenders, Flagstar ranks among the top five, according to preliminary figures compiled by National Mortgage News.
The depository, which has been restructuring its operations over the past two years, is considered "well-capitalized" for regulatory purposes. At December 31 it had a 9.61% Tier 1 Capital ratio, despite losing $192 million in the fourth quarter.
