Volume 11 ••• Fall 2012
Amalgamated to Offer Condo, Co-op Loans
Amalgamated Bank, New York, has started a full-service home mortgage division that will originate loans, not only on one-to-four family properties, but also condominiums and co-ops.
By Brad Finkelstein
July 10, 2012
Home equity loans and lines of credit are available as well as financing for vacation and investment properties.
Edward A. Bolmarcich has been hired as senior vice president and director of residential lending. Previously, he was vice president of residential and consumer lending at Brooklyn Federal Savings Bank.
As an introductory offer, Amalgamated is offering those who apply for and have their mortgages approved in July and August a refund of the cost of the home appraisal at closing. Consumers can apply for loans online or through the bank's 20 retail offices in New York. Those that apply online can receive a conditional approval in as little as 20 minutes.
Amalgamated is New York State-chartered commercial bank owned by the trade union Workers United.