Darryl White sees an opportunity for Bank of Montreal to take more market share in the United States, and he’s betting on investments in mortgage lending, commercial banking and capital markets to get there.
Lending outside the qualified mortgage rule will likely become more prominent in 2018, as originators continue to struggle to replace lost refinance volume and their compliance and risk management processes become more robust.
The Michigan company, which lost more than $1.4 billion in the aftermath of the financial crisis, is trying to become more of a commercial lender. Its recent agreement to buy a deposit-rich franchise in California could help it get there.
Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.