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Outstanding senior home equity remains solid

National Mortgage Professional
May 27, 2008

American Home Bank announces the expansion of its wholesale lending divisionMortgagePress.comAmerican Home Bank, wholesale lending division, BIll Kelley, James Deitch American Home Bank (AHB) has announced the combination of its Northeast and Southeast Wholesale Units. The Bank also announced that William J. S. "Bill" Kelley, a highly respected veteran of the wholesale lending business, has been promoted to president of the expanded wholesale division. James M. Deitch, Chairman and CEO, said, "At AHB, we see this as an excellent time to increase our market share. Our national bank charter and strong track record are attracting brokers to our Wholesale Division. Quality and stability are the order of the day, and we are pleased to be the provider of choice for the excellent brokers still standing strong in the mortgage business." While many major wholesalers are withdrawing from the third party origination business, AHB is expanding its products offerings and delivery systems. Bill Kelley, the new wholesale division president, said, "AHB's focus has always been prime conventional and government loans. We're seeking to expand our wholesale business serving wellestablished mortgage broker partners who are committed to fair pricing, quality loans and attention to compliance." Kelley continued, "We're looking to serve that small community of truly outstanding mortgage brokers who have consistently originated top quality product, are committed to outstanding customer service and who demonstrate a longstanding ability to originate prime conventional conforming and FHA/VA loans." AHB will continue to seek partners who have a proven track record and are searching for a wholesale lender who offers outstanding customer service and reliable fundings. AHB detailed the following key initiatives to assist with the expansion: • Consolidation of the Northeast (offices in Cherry Hill, NJ) and Southeast (offices in Neptune Beach, FL) units into a single American Home Bank wholesale division headed by Kelley. • FHA/VA products will be offered throughout the newly expanded division. • AHB's proprietary loan pricing and underwriting engine will be available to qualified brokers as of June 1, 2008. • Monthly broker webcasts will begin in June 2008. Webcasts will be developed to help brokers grow their businesses and reach new levels of success. Topics will include product information and promotions, sales and service tips, service advice and industry updates. The first webcast will cover "Five Key Factors to Ensure a Mortgage Broker Will Thrive in 2008." Kelley brings over 30 years of mortgage lending experience to his role as President of AHBs Wholesale Division. After spending his early career in retail mortgage banking, Kelley joined Travelers Mortgage Services national wholesale business channel and grew it into a multi-billion dollar business. Kelley also developed wholesale mortgage acquisition businesses for Anchor Mortgage Services, Tucker Federal Bank of Tucker, Georgia and FNB Bank of Jacksonville, Fla. Kelley will be based in Jacksonville, Fla. For more information, visit www.bankahb.com.
Published
May 27, 2008
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