Danbury, Conn., October 21, 2020 — Promontory MortgagePath LLC, a leading provider of comprehensive digital mortgage fulfillment services, announced today that the Community Development Bankers Association (CDBA) has officially endorsed its mortgage fulfillment services and proprietary point-of-sale technology Borrower Wallet®. CDBA recognized Promontory MortgagePath’s solutions for helping community development financial institutions (CDFIs) expand access to homeownership, particularly in the low- and moderate-income markets they serve.
Founded in 2015 by former U.S. Comptroller of the Currency Gene Ludwig, Promontory MortgagePath began with a vision to empower community financial institutions with limited resources to participate profitably in mortgage lending. Through the delivery of best-in-class, technology-enabled fulfillment services and interrelated fintech products, Promontory MortgagePath is able to continually enhance the mortgage process so it is faster, simpler and more inclusive for all borrowers and lenders.
“Creating products and services that include and assist every type of consumer — most importantly, middle- and lower-income Americans — is deeply embedded in our values,” Ludwig said. “Earning CDBA’s endorsement underscores our commitment to CDFIs, and we are actively pursuing initiatives to empower CDFIs to provide consumers with better access to cost-effective mortgage lending services and credit, making the dream of homeownership a reality for all.”
“CDBA advocates for the community development bank sector and the needs of communities often underserved by traditional financial service providers,” said Jeannine Jacokes, Chief Executive Officer of CDBA. “We are pleased to partner with Promontory MortgagePath because of its alignment with our mission of promoting financial inclusion and opportunity among people and places often left out of the economic mainstream.”
The Community Development Bankers Association is the voice and champion of the community development banking movement. CDBA and its 82 member banks work to make the banking industry a force for good by collectively promoting financial inclusion and creating economic opportunity in the nation’s most economically distressed rural and urban communities. We convene community banking peers who strengthen a different kind of banking through collaboration, partnership, and learning. To learn more about CDBA, visit https://www.cdbanks.org/about-us
About Promontory MortgagePath LLC | NMLS ID 1532373
Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today’s rapidly changing residential mortgage market. Promontory MortgagePath’s founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for helping community lenders resolve their most pressing challenges. To learn more, visit https://www.mortgagepath.com.