Palm Springs, CA – The American Bankers Association, through its subsidiary ABA Total Business Solutions, and Freddie Mac (NYSE:FRE) are extending and enhancing their special alliance to provide the nation’s community banks with critical mortgage products, technology tools, staff training and other important services to help them compete in today’s troubled mortgage market. Freddie Mac is one of the nation’s largest investors in residential mortgages.
The official announcement of the Freddie Mac/ABA Alliance extension was made here at the ABA’s Real Estate Lending Conference and Marketplace.
“Today’s announcement with the ABA will accommodate its members’ changing needs with a proven package of business services and residential financing options,” said Iliana Ghanem, Freddie Mac vice president for regional and community lending. “We are proud of our relationship with the ABA and our commitment to provide its members with a higher level of support in today’s challenging market.”
“We are pleased to extend and enhance our agreement with Freddie Mac,” said Deborah Whiteside, senior vice president mortgage solutions, ABA Total Business Solutions. “Community bankers are currently the most stable source of funding for mortgages in the country. The Freddie Mac alliance helps them stay competitive in their markets.”
By joining the Freddie Mac/ABA Alliance, banks gain competitive cash executions, services to help them manage their mortgage portfolios more efficiently – plus exclusive training sessions on many Freddie Mac products and solutions, especially in the areas of technology and affordable housing.
Access to Critical Origination, Servicing and Compliance Services
In addition, the ABA/Freddie Mac Alliance gives banks special access to critical services from some of the industry’s leading providers. These include:
* Set-up advantages for Mortgagebot® with Loan Prospector bank-branded website to originate mortgages, utilizing Freddie Mac’s Loan Prospector® automated underwriting system
* Private-label subservicing through Cenlar® FSB and Dovenmuehle Mortgage, Inc.
* Outsourced Investor accounting, P&I and T&I bank account reconciliations and loan level quality control services through Mortgage Dynamics Inc.
* Advisory services from Brook Systems to help members comply with the myriad of state anti-predatory and other lending statutes;
* REO Management Services from New Vista Asset Management, Inc., the nation’s only CRA-focused foreclosure disposition firm that can help banks quickly and responsibly sell their REO inventory in all major markets.
For more information on the ABA/Freddie Mac Alliance call 866-764-2083 or visit www.FreddieMac.com/singlefamily/aba.html.
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage pass through securities and debt instruments in the capital markets. Over the years, Freddie Mac has opened the doors for one in six homebuyers and more than two million renters across America.
ABA Total Business Solutions offerings are provided via ABA Business Solutions, Inc., a subsidiary of the American Bankers Association. Leverage, access, and expertise mark the suite of products offered by ABA Total Business Solutions. Our relationships with best-in-class companies give you access to unmatched, high-value solutions providers in mortgage; card programs; capital markets; and commercial lending and business banking.
The American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation’s banking industry and strengthen America’s economy and communities. Its members – the majority of which are banks with less than $125 million in assets – represent over 95 percent of the industry’s $12.7 trillion in assets and employ over 2 million men and women.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment