Ally Bank Getting Back Into The Mortgage Business

Posted by Patrick Barnard on December 12, 2016 No Comments

Ally Bank – which was in the mortgage business but then got out of it in 2013 following a slew of financial problems related to the economic crisis – is now getting back into the mortgage business with the official launch of a new direct-to-consumer mortgage offering, Ally Home.

The online only lender says in a release that it is now “well positioned to offer a compelling value proposition in the home loan market.”

Through Ally Home, the bank plans to offer a variety of mortgage products including both fixed rate and adjustable rate loans.

“At Ally, our goal is to ‘Do It Right’ for our customers, many of who have expressed a desire to deepen their relationships with us through additional products to meet their personal finance needs,” says Diane Morais, CEO and president Ally Bank. “Because a home loan is a cornerstone financial product and the largest market within the consumer lending space, this is a natural next step for Ally.”

Ally says it has the technology infrastructure and resources in place to deliver a “best-in-class, high-touch experience throughout the entire [mortgage] process.” The bank says this is important because “consumers cite service to be nearly as important as competitive rates when shopping for a mortgage.”

“Every interaction has been thoughtfully designed to combine the best people with the best technologies to best serve customer needs,” the bank states in its release.

The bank reports that LenderLive will be helping with the launch of the new mortgage business by providing outsourced mortgage fulfillment, settlement and document services.

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