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HomeBridge launches Affinity Mortgage Platform for credit unions
ISELIN, NJ (June 19, 2015) — HomeBridge Financial Services, Inc. (www.homebridgeinc.com), one of the nation’s largest non-bank mortgage lenders, has announced the launch of the HomeBridge Affinity Mortgage Platform, its new affinity lending division designed to provide community banks and credit unions with an easier way to originate residential mortgages. Through this new division, HomeBridge’s affinity lending partners will have access to a turnkey mortgage platform that manages the entire mortgage process, from origination to closing and the servicing of the loan. HomeBridge’s new affinity lending division will be led by industry veteran Joseph Cilento, CPA, CMB, who joins the company in the role of vice president.
As a non-bank lender well known for its dedication to customer service, HomeBridge represents an ideal partner for credit unions and community banks looking to add value as they improve depositor and member retention. HomeBridge provides its affinity lending customers with a full suite of locally tailored residential lending options, which includes access to its very popular renovation mortgage products. If a local financial institution is already offering mortgage solutions, HomeBridge can enhance their current product offerings with the same high level of customer service these institutions already provide their communities on a daily basis.
Cilento brings to HomeBridge more than three decades worth of entrepreneurial initiatives and customer service driven experience in finance, secondary, treasury and regulatory matters. Prior to joining HomeBridge, Cilento was COO of American Financial Resources, where he led the firm’s expansion into becoming a national origination and servicing lender. He previously held senior leadership positions with other major lending intuitions, in addition to running a successful mortgage advisory business and managing his own successful Northeastern mortgage entity that was later sold to a bank holding company.
“The HomeBridge Affinity Mortgage Platform is a cost-effective way for community banks and credit unions to offer residential mortgages while eliminating the need for the costly in-house origination, processing, compliance and regulatory systems needed to support them. When a borrower has to leave the building in order to secure the best possible mortgage for their needs, it’s only a matter of time until the rest of their money follows along with them. When a community bank or credit union can offer mortgages through HomeBridge program, it not only broadens the institutions product base, but also significantly increases retention through an enhanced experience,” commented Cilento.
In addition to providing a wealth of resources few non-bank mortgage lenders can match, HomeBridge also supplies its affinity lending partners, at its own cost, with marketing resources to help them promote the mortgage services now available as a part of the relationship.
“Offering a competitive mortgage platform just isn’t viable or cost effective for most community banks and credit unions. With all of the personnel needs and infrastructure support, in addition to the changes looming from TILA-RESPA, it’s becoming increasingly difficult to compete in mortgage industry,” commented Rick Floyd, partner and executive vice president at HomeBridge.
As a whole, HomeBridge is a full service national mortgage lender, employing nearly 1,400 associates nationwide in 90 retail branches across the country and through its two separate wholesale operations, HomeBridge Wholesale and REMN Wholesale. In 2014 alone, HomeBridge funded $6.4 billion in residential mortgages, making it one of the faster growing mortgage lenders of its kind. HomeBridge’s overall excellence in the mortgage industry led to it being named as one of the top 10 mortgage companies in America by Mortgage Executive Magazine in 2015.
Financial institutions interested in working with HomeBridge’s Affinity Mortgage Platform can contact their local HomeBridge branch manager or Cilento directly at jcilento@homebridge.com.
About HomeBridge Financial Services, Inc.:
HomeBridge Financial Services, Inc. is one of the largest privately held, non-bank lenders in the United States. The Company has grown to include nearly 1,400 associates in more than 90 retail branches across the country and two separate wholesale operations, HomeBridge Wholesale and REMN Wholesale. HomeBridge holds FNMA, FNMA, FHLMS, FHA and VA approvals and funded $6.4 billion in home loans in 2014. More information on HomeBridge can be found online at www.HomeBridgeInc.com
This is a business-to-business communication for use by mortgage professionals only and is not intended for distribution to consumers or third parties. It is not an advertisement; as such term is defined in Section 226.24 of Regulation Z. HomeBridge Financial Services, Inc., NMLS #6521.