ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release October 19, 2004 #04-57
E-mail: [email protected]

ACB BUSINESS PARTNERS ANNOUNCES AGREEMENT WITH CITIMORTGAGE

Press Release Tools
	E-mail This Press Release
	Printer-Friendly Format

WASHINGTON, D.C. — ACB Business Partners, Inc., a wholly owned subsidiary of America’s Community Bankers, announced today that it has entered into an agreement with CitiMortgage to offer mortgage products and enhanced services designed to help ACB member banks meet more of their communities’ housing needs. The agreement complements the suite of five other Mortgage Solutions programs offered by ACB and ACB Business Partners.

“We are very excited about this agreement with a top-tier mortgage investor and servicer with a well-deserved reputation for product breadth and service quality to their correspondents,” said William J. Kroll, ACB Business Partners president and COO. “This agreement rewards our members for delivering high quality loans, giving them a competitive edge in the marketplace. The agreement also includes features that will help bankers increase affordable lending in their communities.”
Under the marketing agreement, tailored for the benefit of ACB members only, ACB and CitiMortgage team up to enhance the loan delivery process and generate additional revenue for ACB members.

“As a member of Citigroup, CitiMortgage is committed to making communities better by providing homeownership opportunities to deserving individuals and families. This new alliance with ACB Business Partners will provide another outlet to make the dream a reality throughout the country,” said Charlotte Catalfo, CitiMortgage’s managing director of correspondent lending. “The product and marketing support that we’ll provide through this alliance will help them reach more potential homeowners and create additional value for ACB members.”

In addition to enhanced pricing and service, CitiMortgage will offer ACB members a full suite of products and delivery options, including:

Conforming, Non-Conforming, and Government mortgages.
A comprehensive ARM suite, including Interest-Only mortgages.
Affordable Lending Solutions, a broad set of mortgage products for customers who need affordable lending, ranging from non-traditional credit loans unique to CitiMortgage to a number of Fannie Mae products.
Delivery Options tailored to the correspondent’s business needs, including Best Efforts Mandatory desk with Consistent Point of Contact service, Single Loan Mandatory, AOT/Direct Trade commitments, Block Commitments, Bulk Sales, and Letters of Agreement.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

-30-