WASHINGTON — America's Community Bankers recently launched ACB Mortgage, LLC, a joint venture with its members designed to leverage the aggregate quality and volume of community bankers' mortgage business.
Michael Young, president/CEO of Cenlar FSB, Ewing, N.J., made the announcement before several hundred attendees at ACB's National Real Estate Lending Conference in Lake Las Vegas. "What makes ACB Mortgage LLC unique is that it is jointly owned and governed by America's Community Bankers and community banks committed to serving their customers' mortgage needs and growing the market for community bank lenders," he said.
The LLC will allow community banks to improve their ability to compete successfully in the mortgage markets to increase their mortgage production. The LLC's founders consist of 32 community banks with a significant presence and commitment to the mortgage markets in their communities. The LLC will act as a negotiating agent with a variety of investors such as aggregators, GSEs and Wall Street firms.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
