FOR IMMEDIATE RELEASE
New Jumbo Fixed-rate Product Offered by ICBA Mortgage Solutions
Washington, D.C. (May 29, 2014) – ICBA Mortgage Solutions, powered by LenderLive™, has announced the recent addition of a jumbo fixed-rate and ARM product to its correspondent lending loan products menu. Product highlights feature loan amounts up to $2 million with 15- and 30-year fixed or 5/1 and 7/1 ARMs. Community banks that participate in the program enjoy no cross-selling guarantees and in-house underwriting.
Ron Haynie, executive vice president of ICBA Mortgage, says that this product allows community banks to better serve customers—especially those in high-priced housing markets. He adds, “While this segment of the housing market is small, it continues to gain strength and community banks are always looking for products that best serve their customers and enhance the overall customer relationship.”
Robert Kallio, senior vice president of ICBA Mortgage Solutions, agrees and emphasizes the added benefit of ICBA Mortgage Solutions' no-cross-sell guarantee. "Until now, community banks had to work with large aggregators if they wanted to serve customers who required mortgage loans above $417,000. We are pleased to offer a product that will meet these customers' needs while protecting these valuable relationships."
“As a community bank, we pride ourselves in offering a convenient, full-service banking experience for customers,” says Jill Castilla, president and CEO of Citizens Bank of Edmond in Edmond, Okla. “This new product offered by ICBA Mortgage Solutions streamlines the process for us to service customers’ high-value mortgage needs.”
Community bankers who wish to learn more about ICBA Mortgage Solutions’ new jumbo fixed-rate and ARM product can contact Robert Kallio at 614-785-6444.
About ICBA Mortgage
ICBA Mortgage is a division of the ICBA Services Network and supports community banks’ access to the secondary market for servicing released programs including; conventional and jumbo 30- and 15- year fixed, FHA, VA, and USDA Rural Housing by combining advanced technology and mortgage solutions through a single channel. Our partnerships with ICBA Mortgage Solutions, powered by LenderLive, D+H Mortgagebot, Fannie Mae and Freddie Mac allow community banks to deliver and service loans for the agencies with benefits beyond what they are able to get themselves.
About ICBA Mortgage Solutions
ICBA Mortgage Solutions, powered by LenderLive, offers ICBA members an exclusive correspondent lending program designed to support community banks concerned with balance sheet risk as well as regulatory and compliance challenges. Participants can choose a delegated or non-delegated correspondent relationship.