Ohio’s banks are signing on to deliver a digital loan experience that makes mortgage lending faster, simpler and more scalable for growth as their state association endorses services offered by Promontory MortgagePath.
The Ohio Bankers League (OBL) officially endorsed Promontory MortgagePath’s (PMP) comprehensive mortgage fulfillment services and digital point-of-sale (POS) technology, Borrower Wallet®, the association announced. PMP’s tech-driven mortgage solutions are designed to help banks compete in the mortgage business more profitably, efficiently and compliantly while eliminating the fixed costs in their current mortgage model.
“Ohio banks and thrifts are relentlessly focused on innovation and uncovering the best ways to increase efficiencies and meet customer demands,” said Mike Adelman, President & CEO of OBL. “At a moment in history where digital offerings and superior service are more urgently needed than ever, PMP stands out for its innovative technology, compliance pedigree, and record of success. Its solutions can keep mortgages flowing smoothly while helping banks reduce operating expenses.”
“We are proud to partner with OBL to help their members launch a digital transformation and deliver an even better customer experience,” said Paul C. Katz, managing director and head of bank relations at Promontory MortgagePath. “Our solution combines innovative technology and integrated compliance while helping clients save time and money. We’re committed to reinforcing and validating the trust and confidence borrowers place in their local lender,” Katz added.
Promontory MortgagePath delivers a comprehensive set of mortgage fulfillment solutions, enabling banks to determine their own product and loan pricing strategies while PMP provides the technology and process. Banks partnering with PMP field their own loan officers to co-pilot the application process and collaborate with their borrowers via Borrower Wallet®. PMP then processes and underwrites each loan using client-provided business rules and closes in the bank’s name.
About Ohio Bankers League
The OBL is the trade association for the Ohio banking industry – and is Ohio’s only organization focused on meeting the needs of all banks and thrifts in the Buckeye State. For more than 125 years, the OBL has been the voice of the Ohio banking industry fostering a cooperation that has made it one of the strongest and most reputable financial trade associations in the country. The non-profit association is comprised of 200 FDIC-insured financial institutions including commercial banks, savings banks, and savings and loan associations ranging in size from just over $13 million in assets to more than $2.5 trillion. Follow the OBL on social media using @ohiobankers.
About Promontory MortgagePath | 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 businesses. The company’s founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a far-sighted thinker on the critical issues confronting financial services, and his companies are renowned for their ability to help community lenders resolve their most-pressing challenges. To learn more, visit mortgagepath.com.