Mortgage Strategies to Consider for 2024
By Michael Kelley, AVP Mortgages at Bankers’ Bank and Kary Goodwin AVP Mortgages at Bankers’ Bank
Many banks are considering exiting the mortgage space entirely due to lower volumes, increased regulation, and the cost to originate/service. There are options to help community banks stay in the mortgage space and earn fee income without operational overhead. Bankers’ Bank offers community banks access to a solution where they can offer their borrowers various products without needing in-house staff and mortgage expertise.
Key Benefits
- Wide variety of products, including portfolio products for non-conforming loans
- Customizable service levels for processing, underwriting, and pre-closing preparation
- Community bank-focused servicing
- Online Mortgage Application website (BB Connect)
- Dynamic pricing engine (Loan Officer Portal)
- Competitive rates
- Access to experienced mortgage professionals
To meet your banks support needs, you have access to customizable service levels:
Gold service level – Bankers’ Bank processes the loan, underwrites, prepares the closing documentation, and purchases the loan after it closes in the originating bank’s name. Bankers’ Bank will be responsible for the compliance quality of all files purchased.
- – Bankers’ Bank will underwrite the loan and purchase the loan after it closes in the originating bank’s name.
Benefits of Utilizing Bankers’ Bank Servicing:
- Mortgages will not be sold to another investor
- No cross-selling other products to your borrowers
- Servicing of loans happens at our headquarters in Madison, Wisconsin
- Borrowers can make payments at the originating bank
- Your borrowers have access to our Servicing Call Center
BB Connect is an online mortgage application customizable and branded to match your bank’s website. It is a very affordable way to increase lending activity and efficiency for your bank. The bank does not have to register the loan with Bankers’ Bank to use BB Connect. They can use it for their portfolio loans and any loans they sell to other investors.
These key benefits of the Bankers’ Bank Mortgage program can help your bank earn fee income and access to secondary market mortgage lending.