The American Bankers Association – through its Corporation for American Banking subsidiary – has renewed its endorsement of Fannie Mae’s secondary market options.
ABA says the options help community banks remain competitive in their local markets.
Since the partnership began in 2002, Fannie Mae has helped participating banks effectively compete in their market while managing their interest rate risk.
This endorsement provides reduced transaction fees on Desktop Underwriter – Fannie Mae’s automated underwriting technology; customized training; updates to keep lenders current on critical issues; and customizable marketing materials.
“Our alliance with Fannie Mae allows ABA member banks to take full advantage of the secondary market,” said Ken Burgess chairman of ABA’s Endorsed Solutions Banker Advisory Council “We’re confident this continued relationship will help our bankers meet their customers’ mortgage financing needs.” Burgess is also chairman, FirstCapital Bank of Texas, Midland, Texas.
“We value our long-standing relationship with ABA and their support in serving the needs of their membership,” said Jennifer Whip, vice president for customer engagement, Fannie Mae. “Fannie Mae will continue to work closely with the ABA as we support the housing recovery today and build a sustainable mortgage finance system for the future.”