Danbury, Conn., Feb. 17 2022 (SEND2PRESS NEWSWIRE) – Promontory MortgagePath LLC, a leading provider of digital mortgage and order management solutions, today announced that the National Bankers Association (NBA) has endorsed its mortgage management services and proprietary technology point of sale, Borrower Portfolio®.
Founded in 1927, the NBA has served as the voice of minority-owned banks. Its members include Black, Hispanic, Asian, Pacific Islander, Native American, and women-owned banks across the country, all of which work to help low- and moderate-income communities that are underserved by traditional banks and service providers. financial services. The NBA endorsement recognizes Promontory MortgagePath’s mortgage execution service and point-of-sale technology for their ability to help minority depository institutions (MDIs) grow their mortgage business.
By using Promontory MortgagePath, NBA member banks can offer a full suite of mortgage products without having to invest in significant in-house infrastructure while reducing their origination costs. Additionally, Promontory MortgagePath facilitates relationships with secondary market investors to support clients’ mortgage origination activities.
“Providing our member banks with technologies and solutions that will help them increase access to financial services in minority communities is critical to our work,” said Nicole Elam, NBA President and CEO. “We are delighted to have successfully approved Promontory MortgagePath, which will provide MDI members with shared access to a mortgage fulfillment solution needed to make homeownership a possibility in communities aspiring to create a generational wealth. »
Founded by former US Comptroller Gene Ludwig, Promontory MortgagePath began with a mission to empower community banks to profitably participate in mortgage lending. Promontory MortgagePath’s community development and minority-owned banking initiative aims to increase homeownership in underserved communities. Through this initiative, Promontory MortgagePath provides competitive pricing models, access to its user-friendly technology, teams of US-based mortgage experts, and robust strategies to help clients drive origination growth. , with the overall goal of helping to create long-term wealth in communities. through increased home ownership.
“Minority deposit-taking institutions are essential channels for financial services in the communities they serve,” said Ludwig, Founder and CEO of Promontory MortgagePath. “We are proud to have the support of the National Bankers Association, which for nearly 100 years has supported these important institutions. Promontory MortgagePath is committed to working with the NBA to increase homeownership, which is central to wealth creation in these communities and to the American dream.
The National Bankers Association joins the Community Development Bankers Association (CDBA) and the American Bankers Association (ABA), as well as a growing list of state banking associations, in endorsing Promontory’s services and technology MortgagePath.
About the National Bankers Association
Founded in 1927 as the Negro Bankers Association, the NBA association today has expanded its membership to also include Hispanic-American, Asian-American, Native American and women-owned banks. Member banks are located in twenty-two states and the District of Columbia. Recognized as the voice of minority banks in the United States, the NBA continues its role as the leading advocate for minority banks in the nation’s capital. Over the decades, the NBA has helped shape public policy in the White House, on Capitol Hill, within the regulatory community and throughout the federal bureaucracy. For more information, visit https://www.nationalbankers.org/.
About Promontory MortgagePath LLC | NMLS ID 1532373
Promontory MortgagePath is a rapidly growing team of passionate problem solvers whose mission is to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive execution services, providing lenders with the progressive technology and scalability needed to compete in today’s rapidly changing residential mortgage market. Promontory MortgagePath founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on critical issues facing financial services, and his companies are renowned for helping community lenders solve their most pressing challenges. . To learn more, visit https://www.mortgagepath.com.
NEWS SOURCE: Promontory MortgagePath
This press release has been issued on behalf of the source of the information (Promontory MortgagePath) which is solely responsible for its accuracy, by Send2Press® Newswire. Information is believed to be accurate but not guaranteed. Story ID: 79092 APDF-R8.5
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