ABA endorses SunTrust Mortgage correspondent lending products
The American Bankers Association has endorsed SunTrust Mortgage to offer ABA members an outlet to sell mortgage loans on advantaged terms.
Additionally, the bank’s mortgage correspondent channel creates liquidity for banks originating mortgage loans by purchasing the loans that banks might otherwise keep in portfolio.
The new alliance allows ABA member banks access to a full array of SunTrust 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."
On the same day, the ABA announced that the association combined its two subsidiary, the Corporation for American Banking and Business Solutions, allowing banks to tap into a more robust and comprehensive suite of tools. The solutions are outlined on a new website, accessible at aba.com/endorsed.