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Essen Hyp Enters U.S. Market with A New York Office.(Hypothekenbank in Essen AG)
American Banker
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June 23, 2004|
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Since Germany started letting its mortgage banks invest in U.S. assets, those banks have made more of a ripple than a splash.
Now Hypothekenbank in Essen AG is stepping it up. It has opened a New York office and plans to originate U.S. commercial mortgages.
In early 2002, Germany gave its mortgage banks (hypothekenbanken in German) clearance to invest in U.S. assets, a privilege that had long been available to commercial banks, which sometimes own the mortgage lenders as part of their business.
Since then Essen Hyp, as it is widely known, has been ...
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