Chicago Bancorp has entered a strategic alliance with Millennium Bank, Des Plaines, Ill., in which the former will provide the latter's customers with mortgage services.
Stephen Calk, founder, chairman and chief executive officer of Chicago Bancorp told this publication that his retail mortgage banking company will be originating, processing, underwriting, closing and funding loans that are tailored for the purchase and refinance needs of the community bank's customers through CB's centralized loan operation.
Calk would not disclose exactly how many of these types of partnerships the company is involved in due to confidentiality agreements with some, but said the company has several with regional banks, national banks, community banks and thrifts.
