Average participating bank saved more than $21,000
WASHINGTON – October 15, 2015 – (RealEstateRama) — The American Bankers Association, through its subsidiary the Corporation for American Banking, announced today that it has saved participating member banks more than $15 million in 2015 through its endorsed mortgage lending programs. With more than 1,200 member banks taking advantage of one or more endorsed lending solutions, each active participating bank saved an average of more than $21,000.
“Through our endorsed solutions providers, ABA member banks have access to comprehensive programs that allow them to increase their mortgage offerings,” said Bryan Luke, chairman of ABA’s Endorsed Solutions Banker Advisory Council. “On behalf of our bankers, we have negotiated advantaged terms with leading companies in the industry.” Luke is also president and COO of Hawaii National Bank in Honolulu.
ABA endorsed mortgage lending solutions offer ABA members advantaged terms on:
Secondary market sales;
Online lending software;
Pre-closing and post-closing quality control;
Price and investor optimization;
Portfolio analysis and management;
Mortgage loan sub-servicing; and
Private Mortgage Insurance.
ABA endorsed mortgage lending products are offered by nine endorsed solutions providers including Fannie Mae; Freddie Mac; Farmer Mac; LoanLogics; D+H, Mortgagebot; Midwest Loan Services; SunTrust Mortgage, Reverse Mortgage Funding, and Arch Mortgage Insurance. These endorsed solutions offer members significant advantages in mortgage delivery options, technology, support and pricing and are backed by a comprehensive due-diligence process, these select solutions are analyzed by industry experts, field-tested by bankers and meet stringent customer-service standards.
Since the launch in 2001, ABA member banks have produced more than $312 billion in loans through these programs. For more information, visit aba.com/mortgage.
About Corporation for American Banking
ABA endorsed solutions help banks make money, save money, diversify income and improve efficiency. Backed by our comprehensive due-diligence process, these select solutions are analyzed by industry experts, field-tested by bankers and meet stringent quality and customer-service standards. From compliance and insurance to payments and mortgage lending, you’ll find products and services to enhance your bank’s bottom line. Learn more at www.aba.com/endorsed.
About American Bankers Association
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans. Learn more at aba.com.
ABA Media Contact: John Hall
Follow us on Twitter: @ABABankers