ICM Capital, a newly formed subsidiary of Independence Community Bank, has been granted Delegated Underwriting and Servicing Lender status by Fannie Mae.The approval will aid Independence Community Bank in expanding its multifamily mortgage business, the Brooklyn, N.Y.-based bank said. ICM will now join 26 other DUS lenders from whom Fannie Mae purchases the majority of its multifamily loans, the bank said. Alan Fishman, president and chief executive officer of Independence, said ICM will be "an integral part of the expansion of Independence Community Bank's multifamily lending activities along the East Coast," where it will work closely with Meridian Capital Group, a mortgage brokerage firm. The partners of Meridian are investing in ICM.
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