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 April 28, 2003 #03-19
E-mail: [email protected]

ACB'S MORTGAGE SOLUTIONS PROGRAMS SERVE MORE THAN 450 COMMUNITY BANK PARTICIPANTS

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WASHINGTON, D.C. — America's Community Bankers' Mortgage Solutions program, featuring relationships with five leading companies, has enrolled more than 450 member community banks, ACB announced today at its Spring Management Conference in Phoenix.

Robert P. Schmermund, senior vice president for corporate communications, reported that participating community banks have delivered nearly $35 billion in home mortgage loans since the inception of ACB's Mortgage Solutions program in early 2001.

“ACB members have been able to serve more than 280,000 families with a broad menu of mortgage programs delivered through cutting edge technology,” said Schmermund. “By participating in ACB's mortgage programs, collectively our members have accrued bottom-line value of more than $60 million through the unprecedented member-advantaged features of these programs.”

ACB's mortgage solutions are the most comprehensive in the industry. ACB has members-only alliances with Fannie Mae, Freddie Mac, Countrywide Home Loans, Principal Residential Mortgage and Financial Freedom Senior Funding Corp.

“Our Mortgage Solutions program is unparalleled, offering the most choices for community banks, ranging from conforming conventional loans to jumbo loans, reverse mortgages, ALT-A, and subprime loans,” said Schmermund. ACB also offers private label subservicing solutions, including servicing released and servicing retained options.

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.

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