ICBA News Release
FOR IMMEDIATE RELEASE
ICBA Mortgage Celebrates 500th Program Participant
Washington, D.C. (October 12, 2005) - ICBA Mortgage, a subsidiary of the Independent Community Bankers of America (ICBA), announced that it has reached a landmark in its service to ICBA’s members. Thurston First Bank of Olympia Wash. today signed on as ICBA Mortgage’s 500th participant aligning itself with one of the most trusted secondary market investors in the industry.
For more than a decade, ICBA Mortgage has offered secondary market access tailored to the needs of community banks. Representing about eight percent of the total volume of all single-family originations or $350 billion dollars according to data provided by Home Mortgage Disclosure Act, ICBA member community banks create the basis for growth in their communities across the nation and generally have more community-friendly lending practices.
“In tandem with our mortgage operations, ICBA Mortgage brings with it a sincere understanding of my customers’ interests,” said Michael D. Edwards, president & CEO of Thurston First Bank in Olympia, Wash. “Our decision to go with one of ICBA’s solutions was driven by our need to work with a company that has a solid track record with other community banks and one whose direction is determined by a board of community bankers.”
“We’re thrilled to welcome Thurston First Bank as our 500th participant,” said Michael Hindman, ICBA Mortgage president & CEO. “Since ICBA Mortgage began, we have constantly developed the products and tools our bankers need to ensure the success of their mortgage programs and help them keep their communities growing.”
With respected industry partners Resource Mortgage Solutions, Financial Freedom, Fannie Mae, Freddie Mac, and the Mortgage Guarantee Insurance Corporation (MGIC), ICBA Mortgage offers community banks the easiest access to right-sized mortgage solutions through competitive rates, programs and services.
ICBA Mortgage Corporation is a wholly owned subsidiary of ICBA. Since 1991, ICBA Mortgage has provided more than 1,000 community banks with equitable access to the secondary mortgage market. The ICBA Mortgage program offers a wide range of long term, fixed and adjustable rate mortgages on primary and second homes, plus investment properties. This broad range of products, including FHA and VA loans makes it possible for community banks to serve all their customers while attracting new ones. For more information, visit the ICBA Mortgage website at www.icbamortgage.com.