Investments in mortgage origination staff and a financial institution with a mortgage business have yet to pay off for the parent of KeyBank.
In 2016, KeyCorp completed its purchase of First Niagara Financial Group. The purchase gave the Cleveland-based company a strong foothold in the mortgage business.
Following the acquisition, KeyBank began offering mortgages across its entire footprint, growing the mortgage loan officer staff to nearly 300 in the process.
Source: Mortgage Daily