Average participating bank saved $43,041
WASHINGTON, DC – May 4, 2012 – (RealEstateRama) — Business Solutions, an American Bankers Association subsidiary, announced that its free Mortgage Solutions programs saved actively participating ABA member banks more than $26.7 million in 2011.
“These programs are the most comprehensive in the industry and help increase the mortgage offerings of our community bank members,” 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, designed to help community banks participate more successfully in the residential mortgage markets, negotiates member-advantage pricing and other benefits with 11 partners, including Fannie Mae, Genworth Financial and Wells Fargo. The banks that actively participated in the programs in 2010 saved on average over $43,041 per bank.
Since the launch in 2001, the banks have produced almost $200 billion in loans through the programs. The programs are free for ABA members.
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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