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ABA’s Community Bank Mortgage Partners With SunTrust Mortgage

""Community Bank Mortgage LLC"":http://www.aba.com/MortgageLLC/default.htm, a subsidiary of Washington, D.C.-based ""American Bankers Association"":http://www.aba.com/default.htm [IMAGE]

(ABA), announced Wednesday that it has selected Richmond, Virginia-based ""SunTrust Mortgage, Inc."":http://www.suntrustmortgage.com/, as one of three preferred secondary market investors.

""SunTrust Mortgage is pleased to have been chosen as a preferred secondary market investor for Community Bank

[COLUMN_BREAK]

Mortgage, and we look forward to a mutually beneficial relationship,"" said J. G. Carter, EVP and national correspondent division manager for SunTrust Mortgage.

As a result of this selection, owner banks of Community Bank Mortgage can sell loans on a servicing-released basis to SunTrust Mortgage and can access the company's full line of products, including jumbo loans.

""We anticipate that our new partnership with SunTrust Mortgage will have an immediate and positive impact on our owner banks,"" said Deborah Whiteside, president and COO of Community Bank Mortgage.

Launched in 2007, Community Bank Mortgage is a unique ABA-exclusive mortgage cooperative structure designed to leverage the collective bargaining power of risk-adverse community banks that actively sell loans in the secondary market. The company said it currently has 53 owner banks across the country that have a significant presence and commitment to the mortgage markets in their communities.

About Author: Brittany Dunn

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