FOR IMMEDIATE RELEASE
ICBA Mortgage and Fannie Mae Extend Partnership
Partnership Provides Greater Access to Secondary Market for Nation’s Community Banks
Phoenix, Ariz. (March 19, 2009)—The Independent Community Bankers of America (ICBA) and Fannie Mae today announced they have renewed and enhanced their seven-year partnership under which community bankers have greater access to the secondary market and can help expand homeownership opportunities in small towns, big cities and suburban neighborhoods across the country. The agreement between ICBA and Fannie Mae includes coordination with members of ICBA Mortgage, ICBA’s mortgage services subsidiary that manages the partnership, and extends the current relationship through 2010.
“Through the enhanced partnership with Fannie Mae, community banks across the country are able to better serve customers’ home-financing needs through quality lending,” said Camden R. Fine, ICBA president and CEO. “This improved partnership will give ICBA members additional resources to help individuals and families in their community achieve sustainable homeownership.”
“The ICBA-Fannie Mae partnership offers expanded services to ICBA member banks, increases the value of their membership and helps them maintain relationships with their customers,” said Dave Petro, president and CEO of ICBA Mortgage. “As well-capitalized and tightly regulated financial institutions, our nation’s more than 8,000 community banks are a great place for Americans to obtain financing for a home they can afford, and afford to keep.”
The partnership provides ICBA members with a comprehensive package of benefits and mortgage services.
Enhancements in the renewal agreement include:
Customized benefits for ICBA members with or without secondary market experience
Enhanced delivery services for members selling loans in bulk
Offerings to accommodate new and existing lenders using Fannie Mae’s Desktop Underwriter® technology
Extended discounts to encourage member banks to use Housing Finance Institute to gain the knowledge necessary to compete in their marketplace. Housing Finance Institute is found at www.efanniemae.com.
ICBA Mortgage offers a complete range of secondary mortgage market programs to meet the business strategies of any member-bank. For more information, visit www.icba.org.
The Independent Community Bankers of America, the nation’s voice for community banks, represents nearly 5,000 community banks of all sizes and charter types throughout the United States and is dedicated exclusively to representing the interests of the community banking industry and the communities and customers we serve. For more information, visit www.icba.org.