A new solution through the American Bankers Association gives bankers an extra lifeline to help support their clients.
According to the ABA, through its subsidiary Corporation for American Banking, it has endorsed a new solution within its ongoing relationship with SunTrust Mortgage.
The new Emerging Market Banker program allows bankers to sell mortgage loans to SunTrust as a correspondent lender. The benefits and parameters include that the emerging banker division is 100% non-delegated. Banks have to utilize approved fulfillment centers to ensure additional compliance safety on each transaction. And in addition, the EBD offers conventional products, both conforming and jumbo. There are no FHA or VA products available.
“This program will help bankers serve their customers’ mortgage financial needs and – for some – allow them to continue offering mortgage loans in their community,” said William Kroll, executive vice president for Corporation for American Banking. “ABA endorsed solutions, are intended to help our members save money, increase revenue and ultimately succeed.
SunTrust Mortgage is currently one of eight strategic mortgage lending solutions providers that offer ABA members advantaged programs to help them compete in the areas of compliance, fraud prevention, loan sales, quality control, operational efficiency and mortgage portfolio risk analysis.