Frost Bank to Re-Open Mortgage Operations After 2 Decades

[Joel Allen]

Interesting story I saw in the San Antonio Business Journal today…

At a time when many banks are divesting or scaling back their mortgage offerings, San Antonio-based Frost Bank has announced its intent to re-open its residential mortgage operations after more than two decades out of the industry.  Frost Bank plans originate the mortgages and then intends to service those loans throughout their lifespan, rather than bundling and selling on the secondary market.

Frost is expected to begin offering these mortgages in mid-2023, and the move is anticipated to bring nearly 100 new employees to the bank to serve as originators, programmers, and compliance personnel.

Frost Bank has 155 branches throughout Texas.

Source:  San Antonio Business Journal (https://www.bizjournals.com/sa...)