Flagstar Bank to Exit Atlanta Market as PNC Bank Enters Earlier

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Mortgage and Lending with Guaranteed Rate NMLS #151088

It was announced yesterday that Flagstar Bank intends to exit the Atlanta, GA banking market. The Michigan based bank will sell its 27 Atlanta area branches to Pittsburgh, PA based PNC Bank. The deal is set to close in December 2011.

This announcement comes only a few weeks after PNC announced its plans to acquire the US retail operations of Royal Bank of Canada, including its Raleigh, NC based RBC Bank.  That deal is set to close March 2012.

Flagstar entered the Atlanta market in 2007 by building a new network of branches.  RBC Bank entered the Atlanta market in 1998 with its purchase of a one branch early Internet bank known as Security First Network Bank.  In 2002, then known as RBC Centura, the bank expanded its presence with the purchase of Tucker Federal Bank.  Once the RBC acquisition is completed, PNC will be the 5th largest bank in the US and the 7th largest in Atlanta.

Read more at PNC to Buy Atlanta Flagstar Branches

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It is always advisable to consult with a knowledgeable lending professional when navigating today's turbulent mortgage and real estate marketplace.  I am committed, qualified and equipped to help you evaluate your options!

 

Also check out:

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FHA Financing Mortgage Program Overview/Updates

USDA Financing Mortgage Program Updates  

 

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  • Jumbo to $3,000,000

  • Bank Statement Program for Self-Employed Borrowers

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  • Non-Warrantable Condos

  • Georgia Power Leaseholds for Lake Burton, Rabun, & Seed

 

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  • Rodney Mason is a Licensed Branch Manager located in Atlanta, GA.   He can be reached at (404) 591-2453.
  • Providing financing for all cities across Georgia including: Acworth, Albany, Alpharetta, Athens, Atlanta, Augusta, Austell, Avondale Estates, Blairsville, Bloomingdale, Blue Ridge, Bogart, Brunswick, Buckhead, Buford, Canton, Carrollton, Cartersville, Chatsworth, Clayton, College Park, Columbus, Commerce, Conyers, Covington, Cumming, Dahlonega,  Dacula, Dalton, Dawsonville, Decatur, Doraville, Douglasville, Duluth, Dunwoody, East Point, Fayetteville, Flowery Branch, Gainesville, Greensboro, Hampton,  Hapeville, Hinesville, Hiram, Jackson, Jefferson, Jonesboro, Kennesaw, Lagrange, Lawrenceville, Lilburn, Lithia Springs, Macon, Madison, Metter, Morganton, Morrow, Newnan, Norcross, Oakwood, Peachtree City, Pooler, Richmond Hill, Riverdale, Rome, Roswell, Sandy Springs, Savannah, Scottdale, Statesboro, Stockbridge, Stone Mountain, St Marys, Sugar Hill, Suwanee, Thomasville, Thunderbolt, Tucker, Tybee Island, Valdosta, Waleska, Warner Robins, Waycross, Wilmington Island, Winder, Woodstock, and many more.

    Providing financing for all cities across Alabama including:
    Alabama Port, Anniston, Athens, Auburn, Bessemer, Birmingham, Boaz, Bridgeport, Cedar Bluff, Chickasaw, Clayton, Coden, Dauphin Island, Decatur, Dothan, Eufaula, Fairfield, Fairhope, Florence, Foley, Forestdale, Fort Morgan, Fort Payne,Gasden, Grand Bay, Gulf Shores, Heron Bay, Homewood, Hoover, Jasper, Josephine, Madison, Meadowbrook, Midfield, Mobile, Mon Louis, New Hope, Orange Beach, Oxford, Oyster Bay, Phenix City, Prichard, Rainbow City, Saraland, Satsuma, Scottsboro, Selma, Troy, Theodore, Tillmans Corner, Trussville, Tuscaloosa, Vestavia Hills, Warrior and many more.

  • Providing financing for all cities across Florida including: Altamonte Springs, Atlantic Beach, Boca Raton, Bradenton, Cape Coral, Clearwater, Coral Springs, Daytona Beach, Delray Beach, Destin, Fort Lauderdale, Fort Myers, Fort Walton Beach, Gainesville, Hollywood, Homestead, Jacksonville, Jupiter, Key Largo, Key West, Lake City, Largo, Marathon, Mexico Beach, Miami, Naples, New Smyra Beach, Ocala, Orlando, Palm Coast, Panama City Beach, Pensacola, Pompano Beach, Port St Joe, Sanibel Island, Sanford, Sarasota, St Augustine, St Petersburg, Tallahassee, Tampa, Vero Beach, West Palm Beach, & Winter Park, and many more.

 

  • Providing financing for all cities across South Carolina including: Aiken, Anderson, Beaufort, Bluffton, Charleston, Columbia, Conway, Edisto Island, Florence, Greenville, Hilton Head, Johns Island, Myrtle Beach, North Augusta, Orangeburg, Rock, Hill, Spartanburg, Sullivans Island, Summerville, and many more.  
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    Providing financing for all cities across Tennessee including: Athens, Brentwood, Bristol, Chattanooga, Clarksville, Cleveland, Cookeville, Dyersburg, Franklin, Gatlinburg, Greeneville, Johnson City, Kingsport, Knoxville, Maryville, Memphis, Morristown, Murfreesboro, Nashville, Newport, Oak Ridge, Pigeon Forge, Sevierville, and many more

 

All mortgage lending guidelines are accurate at time of post, but are subject to change without notice.  Please call for the most current information.

    

           

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Rainmaker
937,953
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Rodney,  thanks for sharing the banking information, it is difficult to catch up with the news.

Jul 30, 2011 03:20 PM #1
Rainmaker
828,815
Sheila Newton Team Anderson & Greenville SC
Berkshire Hathaway HomeServices - C. Dan Joyner - Anderson, SC
Selling the Upstate since 1989

all the banks are gonna be one if they keep buying each other!

Jul 31, 2011 02:15 PM #2
Ambassador
1,654,047
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

There seem to be restructuring going on in the financial market.  In my area First Niagara is buying 240 branches of HSBC

 

Aug 03, 2011 03:20 PM #3
Rainmaker
418,651
Rodney Mason
Guaranteed Rate - Atlanta, GA
Licensed in AL, FL, GA, SC, & TN
Banking is still an industry full of change. I had not heard that HSBC was selling their branches.
Aug 04, 2011 01:06 AM #4
Rainmaker
5,506,583
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We are seeing lots of changes in Maryland.  Companies are merging, expanding and shrinking.  We are constantly changing contact information for loan officers.

Have a great day and an outstanding weekend.  Be sure to have your camera in hand for those special moments.

 Blooming for you!

Aug 05, 2011 03:04 AM #5
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Rainmaker
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Rodney Mason

Licensed in AL, FL, GA, SC, & TN
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