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""Freddie Mac"":http://www.freddiemac.com and the ""Independent Community Bankers of America"":http://www.icba.org (ICBA) announced Friday the extension of their eight-year alliance agreement, which gives ICBA member banks increased access to the secondary mortgage market through the Virginia-based GSE.
[IMAGE]""ICBA is pleased to continue to offer ICBA member community banks the highest quality services and products,"" said Ron Haynie, president and CEO of ICBA Mortgage. ""Our alliance with Freddie Mac helps our members continue to serve the lending needs of their customers while ultimately making their communities a better place to live.""
[COLUMN_BREAK]According to a statement from the organizations, the alliance helps ICBA's nearly 5,000 community bank members provide ""common-sense mortgage loans"" to their customers. The agreement also provides various incentives, including upgraded technology and training.
""Today's announcement should reassure ICBA members that their access to the mortgage products and services will continue through the current market conditions,"" said Mike Koch, VP of offerings market management at Freddie Mac. ""Our alliance with ICBA underscores our commitment to the special needs of our community lender customers and to make home possible in their communities.""
Among the key features of the ""Freddie Mac-ICBA alliance"":http://www.freddiemac.com/singlefamily/icba.html are secondary market sale advantages, with cash executions customized to meet individual business needs; increased access to capital markets and portfolio management experts; and guaranteed rural housing loan products that help bankers reach more borrowers in rural communities.
First announced in 2003, the Freddie Mac-ICBA partnership is designed to help ICBA members serve more customers and stay competitive in a dynamic marketplace. The new alliance agreement extends the relationship between the two organizations through March 2012.
