NEWS RELEASE
June 23, 2010
ABA Media Contact: John Hall
(202) 663-5473
E-mail: jhall@aba.com

ABA RENEWS RELATIONSHIP WITH WELLS FARGO FUNDING

WASHINGTON — Community Bank Mortgage LLC, a subsidiary of the American Bankers Association, has renewed its relationship with Wells Fargo Funding Inc., a subsidiary of Wells Fargo Bank N.A., to act as a secondary market investor for loans originated by community bank owners.

Launched in 2007, Community Bank Mortgage LLC is a unique and ABA-exclusive mortgage cooperative structure designed to leverage the collective bargaining power of risk-adverse community banks that actively sell loans in the secondary market.  Community Bank Mortgage LLC currently has 55 owner banks across the country that have a significant presence and commitment to the mortgage markets in their communities.

“We are very pleased to renew our relationship with Wells Fargo Funding, which has been an investor for LLC owners since our inception.  They are an excellent secondary market partner for our owner banks, and we look forward to continuing our relationship with them,” said Deborah Whiteside, president and COO of Community Bank Mortgage LLC.

“We are excited to renew our contract with Community Bank Mortgage LLC again this year.  By providing a competitive range of mortgage products and services and strong pricing, Wells Fargo has enabled CBM LLC members to more efficiently and profitably serve their communities.  We truly value the relationships we have built with CBM LLC members since 2007 and look forward to working with them through 2010 and into 2011,” said Brian Handal, senior vice president of Wells Fargo Funding.

“As one of the founding owners of Community Bank Mortgage LLC, we have participated in the company’s growth and have witnessed the important role Wells Fargo has played in its success,” said John Schoemer, executive vice president of Presidential Bank in Bethesda, Md.

About American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its 2 million employees. The majority of ABA’s members are banks with less than $165 million in assets. Learn more at www.aba.com.

About Community Bank Mortgage LLC
Community Bank Mortgage LLC is a unique opportunity for banks that are active in the secondary mortgage markets. Co-owned by ABA and community banks, this cooperative-style venture leverages the power of joint ownership by like-minded community bankers to obtain the most preferred terms possible. All ABA member banks are eligible to become owners of Community Bank Mortgage LLC. Visit www.aba.com/mortgagellc or contact Deborah Whiteside at 1-800-BANKERS, ext. 5580 for more details.

About Wells Fargo Funding Inc.
The correspondent business line of Wells Fargo Home Mortgage operates through Wells Fargo Funding, Inc., which is a subsidiary of Wells Fargo Bank, N.A. Wells Fargo Funding is one of the nation's largest correspondent lenders. It has a client base of more than 1,000 banks, thrifts and mortgage lenders in all 50 states.

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