Academic journal article ABA Banking Journal

Do You Have Mortgage Solutions? an Interview with Deborah Whiteside, ABA Senior Vice-President

Academic journal article ABA Banking Journal

Do You Have Mortgage Solutions? an Interview with Deborah Whiteside, ABA Senior Vice-President

Article excerpt

ABABJ: What is ABA Mortgage Solutions?

Deborah Whiteside: We're part of Business Solutions, an ABA subsidiary, which focuses on providing community bankers with access to products and services on better terms than they could get on their own. First, by leveraging the collective power of ABA members, Mortgage Solutions partners with the top companies in the mortgage business to provide advantages in pricing, delivery options, technology, and support. Our affinity programs include secondary market opportunities, mortgage insurance, reverse mortgages, and residential mortgage technology. It's another way that industry unity provides a payoff for our members. Second, through Community Bank Mortgage LLC, co-owned by Business Solutions and community banks, member-bank owners benefit from better execution on loans sold into the secondary market. Overall, what we've done is taken a menu approach. Regardless of how a bank manages its mortgage business, Mortgage Solutions has something to offer.

ABABJ: In dollar terms, what do participating ABA member banks earn or save from these programs?

DW: Our affinity programs saved actively participating ABA member banks more than $27 million in 2010. That's an average of more than $50,000 per institution. Active owners in Community Bank Mortgage LLC received an average of $82,000 in disbursements in 2010 for delivering through the LLC programs. Twice a year we provide all our participating banks with a benefits statement that calculates the value they've received. The bottom line is that participating in any or all of our programs provides a significant benefit.

ABABJ: Is there a particular level of mortgage volume at which a bank should consider becoming a Community Bank Mortgage owner? …

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