The Greenpoint Savings Bank, established in 1868, was housed in four different buildings in the neighborhood prior to commissioning this grand structure. The bank itself, which dropped "Savings" from its title in 1995, was now a subsidiary of GreenPoint Financial Corp., a holding company established in May 1995. But Thomas S. Johnson, GreenPoint's chairman and president, said its secret was "management discipline," according to Karen Talley, with checks and double checks, instead of the scattershot approach he said produced volume for other lenders but also led to lax standards.
It moved its headquarters to Manhattan in 1996. It ranked second in such mortgages in 1996, with 16 percent of about $12.6 billion originated in the manufactured housing sector. Greenpoint’s deep waterfront location soon gave rise to industries including pottery and shipbuilding. The conversion received state sanction the following month, but the state rejected a provision that called for the bank's top officials and trustees to receive a financial package of an estimated $30 million and ordered the company to add three new independent trustees to monitor the bank's affairs.GreenPoint Financial also was offering student and personal-savings loans. Because of a simplified form, its personnel could process about 14 appraisals a day, compared to only three or four if they were using standard appraisal forms requiring depreciating every major item in the house individually.The corporation's success in this field was attributed to its willingness to make mortgage loans without requiring verification of such basic information as income or place of employment.
Through its mortgage lending subsidiary, the company was the national lender in no-documentation residential mortgages. It remains to be seen how the project team will respond to criticisms from the community board and the LPC.Your email address will not be published. The savings bank had been looking for places to... UNITED STATES - … The core customer remained a heavy saver in a blue-collar neighborhood.
A share of stock traded as high as $75.50 during 1997, leading to a two for one stock split in March 1998. Headlands, whose sales force was strongest in the West, while GreenPoint's was strongest in the East, had originated more than $6.8 billion in loans in 1998 by early December.GreenPoint Financial Corp. is a bank holding company whose bank subsidiary, GreenPoint Bank, had 73 branches in the New York City metropolitan area in 1998. Its earliest component was Southold Savings Bank in Southold, New York (although the company dates its history from 1905 with the founding of Mattituck Bank in Mattituck, New York, which would become the most active early partner). Banks Commercial & Savings Banks Financing Services. GreenPoint Bank had 74 full-service offices, all in the metropolitan area.