Worcester, Mass.-based Commerce Bank has teamed up with Embrace Home Loans to help market Embrace's Affinity Mortgage Solution, a residential lending program for community banks and credit unions.
Embrace's Affinity Mortgage Solution is private label, outsourced program offering conventional, Federal Housing Administration, Veteran's Affairs and U.S. Department of Agriculture residential mortgages.
In this case, the product is being co-branded as Commerce Bank Mortgage Solutions.
As per a press release, Affinity removes all regulatory oversight from Commerce Bank but helps maintain its customer base. Further, Embrace manages customer engagement to advance the bank's brand as well as to create cross-sell opportunities.
