ABA, Freddie Mac Extend Alliance

ss Solutions, an affiliate of the American Bankers Association (ABA), and Freddie Mac have announced plans to help community banks compete in the purchase money mortgage market by extending their eight-year old alliance. The Freddie Mac/ABA alliance provides ABA's community bank members with access to critical mortgage products, technology, staff training and other services, the companies say. ‘Renewing our alliance with the ABA means more community banks will have the secondary market tools they need to help families take advantage of today's low mortgage rates and affordable home prices,’ comments James Cotton, vice president of sales at Freddie Mac. William Kroll, president of Business Solutions, adds, ‘We are pleased to extend our alliance with Freddie Mac. Our valued relationship helps increase the mortgage offerings of our community bank members and expand their access to the secondary markets.’ The Freddie Mac/ABA alliance gives member banks competitive cash executions and exclusive training on many Freddie Mac products and solutions. The partnership also provides setup advantages with Mortgagebot with Loan Prospector, a bank-branded website for originating mortgages with Freddie Mac's Loan Prospector automated underwriting service, and private-label subservicing through Cenlar FSB and Dovenmuehle Mortgage Inc. SOURCE: [link=http://freddiemac.com/news/archives/singlefamily/2010/20100616_aba.html]Freddie Mac


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