Trade Group Endorses ABFS Program

America's Community Banking Partners Inc., Bala Cynwyd, Pa., has endorsed a program that permits community banks to offer home equity loans to customers who do not meet their lending criteria.Under the Bank Alliance Program, offered by American Business Financial Services Inc., bankers can forward their declined applications to ABFS's Processing Service Center Inc., which processes, underwrites, and arranges for the purchase of the loans. The nationwide program "allows banks to maintain their customer relationships, obtain CRA credit, and earn fee income on business they might normally decline," said ACB Partners, a subsidiary of the America's Community Bankers trade association. The group said the decision to endorse the program followed the completion of due diligence on the product and its compliance with the Real Estate Settlement Procedures Act. Anthony J. Santilli, chairman, president, and CEO of ABFS, said the support from ACB Partners, along with the efforts of Mark J. Weishaar as senior vice president and national sales manager, "will help us better serve participating banks."