Embrace Home Loans is about to have more than two million new potential mortgage lending clients thanks to a new partnership with Ameriprise Financial.
The companies announced Wednesday that they are partnering to allow Embrace to provide mortgages to Ameriprise’s two million wealth management clients.
Ameriprise, which has nearly 10,000 financial advisors and more than two million clients, said that it partnered with Embrace as part of its strategy to provide lending services to its clients to support their financial needs and goals.
According to the companies, the partnership has been in pilot with a select group of advisors since March, and now the companies are ready to roll out the program nationwide.
“We’re honored to team with such a respected institution as Ameriprise Financial,” said Kurt Noyce, president of Embrace Home Loans Financial Institutions Group.
“This alliance brings together the best of both organizations to truly create a partnership that is greater than the sum of its parts,” Noyce continued. “The vision Ameriprise has for clients and advisors – both during the origination and the life of the loan – is inspiring and aligns perfectly with Embrace Home Loans’ values and mission.”
According to the companies, they collaborated to create customized resources for both clients and advisors that make the mortgage process easier for all parties involved.
“Whether clients are looking for a new home or refinancing their current one, securing the right mortgage is a critical piece of their financial planning,” said Abu Arif, president, Ameriprise Bank. “We’re committed to helping our clients manage their finances every step of the way, in good times and bad. To that end, we’re excited to combine Ameriprise’s comprehensive advice with the right lending solutions to help clients achieve their financial goals.”
The move brings to mind the partnership between Quicken Loans and State Farm, wherein State Farm is using Quicken Loans’ Rocket Mortgage to originate mortgages for State Farm customers.
And now, Embrace and Ameriprise are partnering to bring mortgages to Ameriprise’s customers.
“The partnership of Ameriprise and Embrace Home Loans brings together a high level of professionalism in wealth management and mortgage origination,” said Dennis Hardiman, CEO of Embrace Home Loans. “It also combines the superior customer service provided by both companies, ensuring that Ameriprise’s clients will receive the best mortgage experience possible.”