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ABA Subsidiary's Mortgage Programs Save Members $40 Million
Feb 8 - Business Solutions, an American Bankers Association subsidiary, has announced that its free Mortgage Solutions programs saved actively participating ABA member banks more than $40 million in 2012, an average of more than $49,300 per active bank participant.
"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 nine partners, including Fannie Mae, Interthinx and Aklero.
Since the launch in 2001, the banks have produced $248 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, management tools, quality control and lending technology.