Freddie Mac and Business Solutions, an affiliate of the American Bankers Association, extended a 10-year alliance this week.
Historically, the partnership has helped community banks access secondary market resources, as well as mortgage products, advanced technology and training.
The alliance is based on a long-term goal of ensuring community banks can compete in the purchase money mortgage market.
"Today’s announcement means ABA member banks will continue to have the stable, steady access to the secondary market resources needed to succeed in today’s market," said Christina Boyle, vice president and interim head of sourcing at Freddie Mac. "We take special pride in our relationship with the ABA and look forward to working with them and their member banks to foster new homeownership opportunities across America."
The alliance also is known for providing ABA member banks with competitive cash executions and training related to Freddie Mac products.