[1]Parkside Lending [2] (PSL), a national wholesale and correspondent lender, recently announced its insurance subsidiary PSL Insurance Company, LLC has been approved to become a member of the Federal Home Loan Bank (FHLBank) of Cincinnati.
The membership went into effect October 5, 2015.
Parkside Lending will provide leverage to its affiliate, Parkside Mortgage Trust, a Real Estate Investment Trust (REIT) through its FHLB membership.
Both institutions are looking forward to a mutually beneficial relationship with the FHLB. With this membership, Parkside Lending has access to a stable financing source to enhance Parkside’s short-term and long-term value propositions.
“We’re honored to be joining the ranks of this small group of distinguished financial organizations that comprise this well-regarded and important lending institution and look forward to a mutually beneficial relationship with the FHLB,” said Matthew Ostrander, Chairman and CEO of Parkside Lending. “By virtue of our membership and having access to this flexible source of funding, Parkside will be able to safely deploy and leverage innovative financing that will make a positive difference for mortgage professionals and consumers in all markets we serve nationwide,” he added.