ICBA Announces New Jumbo Fixed-Rate and ARM Product

ICBA Mortgage Solutions has announced the recent addition of a jumbo fixed-rate and ARM product to its correspondent lending loan products menu. Product highlights feature loan amounts up to $2 million with 15- and 30-year fixed or 5/1 and 7/1 ARMs. Community banks that participate in the program enjoy no cross-selling guarantees and in-house underwriting. Ron Haynie, executive vice president of ICBA Mortgage, says that this product allows community banks to better serve customers—especially those in high-priced housing markets. He adds, “While this segment of the housing market is small, it continues to gain strength and community banks are always looking for products that best serve their customers and enhance the overall customer relationship.” Robert Kallio, senior vice president of ICBA Mortgage Solutions, agrees and emphasizes the added benefit of ICBA Mortgage Solutions' no-cross-sell guarantee. "Until now, community banks had to work with large aggregators if they wanted to serve customers who required mortgage loans above $417,000. We are pleased to offer a product that will meet these customers' needs while protecting these valuable relationships." “As a community bank, we pride ourselves in offering a convenient, full-service banking experience for customers,” says Jill Castilla, president and CEO of Citizens Bank of Edmond in Edmond, Okla. “This new product offered by ICBA Mortgage Solutions streamlines the process for us to service customers’ high-value mortgage needs.”