With Promontory MortgagePath, community banks can enhance borrowers' digital mortgage experience and bolster important customer relationships while improving profit margins.
ATLANTA (PRWEB) January 20, 2020
The Georgia Bankers Association (GBA) has teamed up with Promontory MortgagePath LLC (formerly Promontory Fulfillment Services) to provide an efficient way for banks to build or expand their residential lending businesses.
GBA has endorsed Promontory MortgagePath’s comprehensive mortgage fulfillment services and proprietary point-of-sale (POS) technology, Borrower Wallet®, for their ability to helps banks satisfy customer demand for a modern mortgage experience without incurring the expense and burden of supporting an entire mortgage operation.
“Customers turn to their local banking relationships for mortgages, but banks are finding that the profitability of mortgage origination is under pressure,” said Bogan J. Brannen, Director of GBA Member Services. “By outsourcing part of the process to Promontory MortgagePath and deploying its innovative technology, community banks can enhance borrowers’ digital mortgage experience and bolster important customer relationships while improving profit margins.”
With Promontory MortgagePath’s comprehensive solutions, banks determine their own product- and loan pricing strategies while Promontory MortgagePath provides the POS technology and fulfillment operations. Banks partnering with Promontory MortgagePath deploy their own loan officers to manage the borrower relationship – co-piloting the application process and collaborating with their borrowers via Borrower Wallet®. Promontory MortgagePath then processes and underwrites each loan using client-provided business rules and closes in the bank’s name.
“We are excited to partner with GBA to provide the technology and processes helping their member banks increase origination volume, boost profits and transform the customer experience,” said Paul Katz, managing director and head of bank relations at Promontory MortgagePath. “Competition in this space is intense and our solutions are designed to help banks deliver the convenient and simplified mortgage process their customers demand.”
About the Georgia Bankers Association:
Founded in September 1892, the Georgia Bankers Association promotes the general welfare and usefulness of banking and the preservation of a sound banking system. For 127 years now, GBA has been the resource that empowers Georgia’s banks, providing effective government relations and public advocacy, a community of professional peers, top-quality education and professional development, and revenue enhancing products and services.
About Promontory MortgagePath | NMLS ID 1532373
Promontory MortgagePath LLC combines extensive lending expertise with trailblazing tech leaders to provide efficient, cost-effective mortgage fulfillment solutions and point-of-sale technology to lenders of all sizes. Founded in 2015, Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage businesses. The company’s founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a far-sighted thinker on the critical issues confronting financial services and his companies are renowned for their ability to help community lenders resolve their most-pressing challenges. To learn more, visit mortgagepath.com.