Danbury, Conn., Feb. 17, 2022 — Leading digital mortgage and fulfillment solutions provider Promontory MortgagePath LLC today announced the National Bankers Association (NBA) has endorsed its mortgage fulfillment services and proprietary point-of-sale technology, Borrower Wallet®.
Founded in 1927, NBA has served as a voice for minority-owned banks. Its members include Black, Hispanic, Asian, Pacific Islander, Native American and women-owned banks across the country, all working to help low- and moderate-income communities that are underserved by traditional banks and financial service providers. NBA’s endorsement recognizes Promontory MortgagePath’s mortgage fulfillment service and POS technology for their ability to help minority depository institutions (MDIs) build their mortgage businesses.
Utilizing Promontory MortgagePath, NBA’s member banks can offer a full suite of mortgage products without the need to invest in significant internal infrastructure while also lowering their origination costs. In addition, Promontory MortgagePath facilitates secondary market investor relationships to support clients’ mortgage origination activities.
“Providing our member banks with technology and solutions that will help them increase access to financial services in minority communities is essential to our work,” said Nicole Elam, president and CEO, NBA. “We are pleased to have successfully vetted Promontory MortgagePath, which will offer member MDIs shared access to a mortgage fulfillment solution necessary to making homeownership a possibility in communities aspiring to build generational wealth.”
Founded by former U.S. Comptroller of Currency Gene Ludwig, Promontory MortgagePath began with a mission of empowering community banks to participate profitably in mortgage lending. Promontory MortgagePath’s community development and minority-owned bank initiative is focused on increasing access to homeownership in underserved communities. Via the initiative, Promontory MortgagePath provides competitive pricing models, access to its user-friendly technology, dedicated U.S.-based teams of mortgage experts and robust strategies to help clients drive origination growth, with the overall goal of helping build long-term wealth in communities through increased homeownership.
“Minority depository institutions are critical conduits for financial services in the communities they serve,” said Ludwig, founder and CEO of Promontory MortgagePath. “We are proud to have the endorsement of the National Bankers Association, which for nearly 100 years has supported these important institutions. Promontory MortgagePath is committed to working with the NBA to increase access to homeownership, which is central to wealth building in these communities and the American Dream.”
The National Bankers Association joins the Community Development Bankers Association (CDBA) and American Bankers Association (ABA), as well as a growing list of state banking associations, in endorsing Promontory MortgagePath’s services and technology.
About National Bankers Association
Founded in 1927 as the Negro Bankers Association, today, the NBA has expanded its membership to also include Hispanic-American, Asian-American, Native American, and women-owned banks. Member banks are located in twenty-two states and the District of Columbia. Recognized as the voice of minority banking in the U.S., the NBA continues its role as chief advocate for these banks in the nation’s capital. Through the decades, NBA has helped to shape public policy at the White House, on Capitol Hill, within the regulatory community and throughout the federal bureaucracy. For more information, visit https://www.nationalbankers.org/.
About Promontory MortgagePathLLC | 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.