ICBA, Fannie Mae Renew Partnership

Posted by Orb Staff on October 23, 2007 No Comments
Categories : Residential Mortgage

The Independent Community Bankers of America (ICBA), ICBA Mortgage and Fannie Mae have renewed their five-year-old mortgage services partnership through 2010. According to ICBA, the partnership enables community bankers to have greater access to the secondary market and expand homeownership opportunities.

In addition, ICBA and Fannie Mae have agreed to include the following contract enhancements in their new renewal agreement: a simplified benefits structure that includes a credit applied to the purchase price of loans at the time of purchase by Fannie Mae, enhanced delivery services for members selling loans in bulk, reduced Desktop Underwriter licensing and transaction fees, and extended discounts to encourage member banks to use the Housing Finance Institute.

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