ITLA Sub Inks Pact With Fannie

ITLA Capital Corp., La Jolla, Calif., has announced that its wholly owned banking subsidiary, Imperial Capital Bank, has signed a loan purchase and servicing agreement with Fannie Mae.Under the agreement, the bank will originate small, fixed-rate multifamily loans with 5-, 7-, 10-, and 15-year terms for sale to Fannie Mae as a Fannie Mae-approved M-Flex Lender. ICB will originate these loans, along with its existing multifamily and commercial real estate loans, through its national network of loan production offices, ITLA said. "The small multifamily fixed-rate loans, to be originated by the bank and sold to Fannie Mae, will give the bank's customers a competitive financing alternative, in addition to our longstanding and successful adjustable-rate multifamily and commercial real estate loan products," said ITLA's president and chief executive officer, George W. Haligowski.