ACB Touts Conduit Mortgage Sales

America's Community Bankers member banks and thrifts sold $33 billion in one- to four-family mortgages during the first nine months of this year through strategic alliances set up by the trade group with Fannie Mae, Freddie Mac, and private wholesalers.Since the first alliance with Fannie Mae was launched in May 2001, the ACB mortgage program has been a conduit for $55 billion in loans, according to ACB. "The mortgage programs couldn't have come along at a better time," said William Zuppe, a savings bank executive from Spokane, Wash. It has allowed ACB members -- especially the smaller members -- to participate in this "terrific boom in refis over the last couple of years," he said. Mr. Zuppe becomes the ACB chairman Oct. 22 when the current chairman, Russell Taylor, hands him the gavel at ACB's annual convention in Las Vegas.