Sept 4 - The American Bankers Association - through its Corporation for American Banking subsidiary - has endorsed SunTrust Mortgage Inc. to offer ABA members an outlet to sell mortgage loans on advantaged terms. SunTrust’s mortgage correspondent channel creates liquidity for banks originating mortgage loans by purchasing the loans that banks might otherwise keep in portfolio.
This alliance will allow ABA member banks access to a full array of SunTrust’s mortgage products.
“SunTrust’s exceptional mortgage program allows smaller banks to continue to offer a robust mortgage lending program by providing portfolio liquidity,” said William Kroll, executive vice president of ABA’s Corporation for American Banking. “The solutions endorsed by ABA, like SunTrust Mortgage, are intended to help our members increase revenue and profit and ultimately succeed.”
“SunTrust’s mortgage products can help banks remain competitive in their marketplace and meet the mortgage financing needs of their customers,” said Dorinda Smith, senior vice president, correspondent production manager for SunTrust Mortgage.
SunTrust joins a group of existing strategic mortgage solutions providers that offer ABA members advantaged programs to also help them compete in the areas of compliance, fraud prevention, loan sales, quality control, operational efficiency and mortgage portfolio risk analysis.