Finance
NYCB to Sell More Loans to JPMorgan After $5.9 Billion Deal
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New York Community Bancorp, disposing of assets and freeing up cash after its rescue by investors, said it completed selling $5.9 billion of loans to JPMorgan Chase & Co. and plans to sell $200 million more in the near future — going further than previously announced.
The disposals of so-called mortgage warehouse loans will boost NYCB’s common equity Tier 1 capital ratio by about 70 basis points, the company said in a statement Monday. The deal was done at par.