Kentucky Bankers Association Endorses Promontory Fulfillment Services for Mortgage Services
Kentucky’s banks are gaining a new and cost-effective way to stay active in home lending as their state association endorses innovative services offered by Promontory Fulfillment Services LLC (PFS).
PFS announced the Kentucky Bankers Association (KBA) officially endorsed PFS’ comprehensive mortgage fulfillment services and proprietary point-of-sale (POS) technology, Borrower Wallet®. PFS’ tech-driven mortgage fulfillment solutions are designed to help banks, especially community banks, compete in the mortgage business without incurring the expense and burden of supporting an entire mortgage operation.
“KBA selected PFS’ best-in-class mortgage fulfillment services to help banks remain competitive in the face of steadily rising built-in mortgage expenses and intense competition,” said Ballard W. Cassady, Jr., KBA president and CEO.
“Mortgage lending is increasingly a scale business, which is making it more challenging for community banks to participate profitably,” Cassady said. “Part of our mission as an association is to help our members sort through product and servicing offerings and give them confidence in their options. We concluded that banks choosing to work with PFS would gain the expert support of a smart partner with the innovative tools needed to help meet evolving customer demands.”
“PFS delivers a tailored, modern and cost-effective set of mortgage fulfillment solutions unique in the market,” said Paul Katz, managing director and head of bank relations at PFS. “The solutions are built around an innovative point-of-sale technology known as Borrower Wallet®, which is designed to deliver a consistent, transparent, digital borrower experience while significantly enhancing lender compliance.”
“State associations are taking stock of our tech-driven residential mortgage fulfillment services and endorsing them as a way to help their member banks increase profitability, drive origination growth and transform the customer experience,” Katz said. “We’re excited to team up with KBA to help Kentucky banks compete prudently and profitably while delivering the faster, simpler mortgage process their customers are demanding.”
PFS’ comprehensive set of solutions enables banks to determine their own product and loan pricing strategies while PFS provides the POS technology and process. Banks partnering with PFS field their own loan officers to co-pilot the application process and collaborate with their borrowers via Borrower Wallet®. PFS then processes and underwrites each loan using client-provided business rules and closes in the bank’s name.
About Kentucky Bankers Association
KBA is a not for profit trade association that has been providing legislative, legal, compliance and educational services to its member institutions since 1891. KBA’s directors and staff work together with its members to make the financial services industry a more effective and successful place to work. The strength of KBA is bankers unifying as an industry to speak as one voice.
About Promontory Fulfillment Services LLC | NMLS ID 1532373
PFS and PromonTech are part of Promontory MortgagePath, a company led by Gene Ludwig, the former U.S. Comptroller of the Currency. PFS provides comprehensive mortgage fulfillment services, enabling lenders to offer a full range of mortgage products profitably and efficiently. PromonTech develops innovative lending technology, delivered to the market through PFS. Promontory MortgagePath brings together seasoned mortgage operations, compliance experts and trailblazing technology leaders to provide industry-leading solutions transforming the lending landscape.