Freedom Mortgage Corporation, a privately held, full-service mortgage lender licensed in all 50 states, has launched the Financial Institutions Partner Group, a newly formed division that provides end-to-end mortgage outsourcing for regional banks, community banks and credit unions.
The new Financial Institutions Partner Group fills the industry’s need for complete outsourced mortgage services specifically for small to midsize financial institutions. The division handles all aspects of the mortgage transaction, from the initial client call to closing and servicing of the loan, on behalf of its financial institution clients.
By partnering with Freedom Mortgage, regional banks, community banks and credit unions can offer mortgage services to their customers and members without having to hire, manage and train mortgage staff; invest in mortgage technologies; or expose themselves to the risks associated with originating and servicing mortgage loans. In addition, because Freedom Mortgage focuses only on mortgage services, its financial institution clients do not incur the risk of losing customers or members to larger Financial Institutions, as can be the case if they don’t have a competitive mortgage product.
“Banks and credit unions need to offer the full range of banking products and services in order to stay competitive,” said Stan Middleman, CEO of Freedom Mortgage. “We are pleased to provide small to midsize financial institutions a way to offer one of the most important consumer financial services, without the risk or costs associated with keeping their operations in-house.”