Flagstar Bancorp Inc. of Troy, Mich., said it plans to expand its commercial real estate lending operations to 16 new states in West, Midwest, and South.
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The $15.2 billion-asset company announced the plan Monday. It said it would offer land development and construction loans, permanent end-financing, and loan participations.
Flagstar said it was doing this now because it has developed an "expertise" in commercial and consumer lending in its home markets. It currently has branches in Michigan, Indiana, and Georgia, and has home loan centers nationwide.
