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Cenlar Provides ACB Servicing Option.(Cenlar Federal Savings Bank)(America's Community Bankers)(Brief Article)
Community banks participating in America's Community Bankers/ Fannie Mae affinity program now have the option of using a private label subservicer as way to comply with Fannie Mae servicing requirements.
The subservicer is Cenlar FSB and the Ewing, N.J. thrift is offering a low-cost program that allows ACB members to retain exclusive marketing rights on their loans, as well as the right to refinance the loans.
"The foundation of a successful community banking strategy is creating and maintaining a loyal and satisfied customer base," said Cenlar president Michael Young. "The specially tailored private label program will reinforce and enhance this strategy through technology and targeted customer care," he said.
The affinity program, which ACB announced in January, reduces the costs ACB members would normally incur if they sold their loans to Fannie Mae and provides access to the secondary market agency's Internet system, affordable housing products, education and training programs.
"The ACB/Fannie Mae Affinity Partnership has become a huge success in a very short time," said ACB president Diane ...
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