Average participating bank saved $50,000
WASHINGTON, DC – March 10, 2011 – (RealEstateRama) — Business Solutions, an American Bankers Association subsidiary, today announced that its Mortgage Solutions programs saved bankers over $27 million in 2010.
The programs, designed to help community banks participate more successfully in the residential mortgage markets, were launched in 2001. Since that time, the banks have produced more than $160 billion in loans through the programs. In 2010, more than 1,000 ABA member banks elected to be a part of one or more of the 12 programs available through Mortgage Solutions.
Mortgage Solutions negotiates member advantaged pricing and other benefits with its 12 residential mortgage partners. The programs are free for ABA members. The banks that actively participated in the programs in 2010 saved on average over $50,000 per bank.
“These programs are the most comprehensive in the industry,” said William J. Kroll, president of Business Solutions. “Mortgage Solutions has negotiated the best terms with the leading companies in the industry,” said Kroll.
Mortgage Solutions offers members advantaged terms on secondary market sales, fraud prevention and compliance products, appraisal management tools, and technology.
About Business Solutions
Business Solutions, a subsidiary of the American Bankers Association, gives community bankers access to products and services on better terms than they could get on their own. By leveraging the collective power of ABA members, we offer significant savings through competitive mortgage lending, payments, capital markets and business banking solutions. Learn more at aba.com/BusinessSolutions.
About American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its two million employees. The majority of ABA’s members are banks with less than $165 million in assets. Learn more at aba.com.
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