ICBA, Wholesaler to Offer New Mortgage Option

The Independent Community Bankers of America has teamed up with wholesaler Taylor, Bean & Whitaker Mortgage Corp. to give its member banks an option to sell their loans servicing-released and achieve better pricing and service for their mortgage customers."It is the philosophy of Taylor, Bean, Whitaker that attracts us to them because they have a community bank focus," said ICBA Mortgage senior vice president Elizabeth Deal. TB&W offers clients a Web-based origination system called CommunityBankOnline that allows the bank's officers to maintain control of customer relationships throughout the origination and servicing of the loan. The Ocala, Fla.-based wholesaler will not cross-sell to the banks' customers and the customers will still make their mortgage payments to the bank, Ms. Deal explained. ICBA's mortgage subsidiary already has alliances and partnerships with Fannie Mae, Freddie Mac, and IndyMac Bank for member banks that want to sell their loans and retain the servicing. The ICBA can be found online at http://www.icba.org, and TB&W can be found online at http://www.taylorbean.com.