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The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is ...
National City Corporation was a regional bank holding company based in Cleveland, Ohio, founded in 1845; it was once one of the ten largest banks in America in terms of deposits, mortgages and home equity lines of credit. Subsidiary National City Mortgage is credited for doing the first mortgage in America.
The transitional logo used by PNC Financial Services after it finalized the purchase of National City Corp., January 2009 –June 2010.. The National City acquisition by PNC was the deal by PNC Financial Services to acquire National City Corp. on October 24, 2008 following National City's untenable loan losses during the subprime mortgage crisis.
The result of the PNC Mortgage acquisition made WaMu the nation's third-largest lender. In April 2001, WaMu announced the pending acquisition of the Columbia, South Carolina–based Fleet Mortgage Corporation from FleetBoston Financial for $660 million (~$1.08 billion in 2023) in cash. [169] The acquisition was completed in June 2001. [170]
Bill Demchak. William Stanton Demchak (born August 24, 1962) is a business executive in the finance industry and serves as the current chief executive officer of PNC Financial Services. He is credited with being one of the earliest adopters of the credit default swap, especially the creation of markets around them, which due to the role they ...
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PennyMac Financial Services, Inc. is an American residential mortgage company headquartered in Westlake Village, California. The company's business focuses on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. PennyMac operates through two subsidiaries: PennyMac Loan ...
Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. [1] MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ...