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Stock impact report

Zions' latest deal will boost its multifamily business [Yahoo! Finance]

Zions Bancorporation N.A. (ZION) 
Last zions bancorporation n.a. earnings: 4/20 04:10 pm Check Earnings Report
US:NASDAQ Investor Relations: zionsbancorp.com
Company Research Source: Yahoo! Finance
What's at stake: The ability to underwrite and close Fannie and Freddie loans will position Zions, which operates in 11 western states including California, to take advantage of the need for more multifamily lenders in Southern California, one analyst said. Forward look: The deal must be approved by Fannie Mae and Freddie Mac. Zions Bancorp.'s multifamily lending business is poised for more growth after the regional bank announced a deal that will allow it to offer Fannie Mae and Freddie Mac loans to its commercial real estate customers. The $89 billion-asset company said Monday that it plans to acquire the agency lending business of Basis Multifamily Finance I, a subsidiary of the New York-based commercial real estate investor Basis Investment Group. Financial terms were not disclosed. The proposed deal, which includes personnel, access to Fannie Mae and Freddie Mac lending programs and all associated mortgage servicing rights, comes on the heels of a similar transaction inv Show less Read more
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