Danbury, Conn., July 15, 2021 — Promontory MortgagePath LLC, a leading provider of comprehensive digital mortgage and fulfillment solutions, announced today the Oklahoma Bankers Association (OBA) has officially endorsed its mortgage fulfillment services and proprietary point-of-sale technology Borrower Wallet®.
OBA recognized Promontory MortgagePath’s mortgage technology and end-to-end fulfillment services for their ability to help its members reduce mortgage origination expenses while allowing them to retain a full mortgage product suite. By shifting fixed mortgage-operations costs to a variable cost model through Promontory MortgagePath, community banks can augment their staffing needs to match the ebb and flow of the mortgage market.
“OBA’s mission is to ensure Oklahoma’s robust banking community possesses the tools it needs to support its communities and few support a community like increased homeownership,” said OBA President and CEO Adrian Beverage. “Promontory MortgagePath’s mortgage technology and fulfillment services will deepen our community banks’ capacities to serve their communities while also providing stability and longevity through increased access to homeownership.”
Founded by former U.S. Comptroller of Currency Gene Ludwig, Promontory MortgagePath began with a commitment to empower community banks to participate profitably in mortgage lending. By offering mortgage technology and end-to-end fulfillment services, Promontory MortgagePath helps community banks build franchise value and expand relationships with their customers while establishing mortgage businesses that can withstand all market conditions. Although Promontory MortgagePath provides both the technology — including a POS and LOS — and back-office operational support, such as processors, underwriters and closers, community banks require to profitably grow their businesses, all loans are issued in the bank’s name, and the bank retains control over the product mix and pricing, ensuring mortgage operations remain in line with the bank’s overall risk appetite and growth plans.
“Our solution amplifies a core strength of community banks — outstanding customer service — by adding a digital platform and comprehensive fulfillment services,” said Paul Katz, managing director and head of bank relations at Promontory MortgagePath. “We’re excited to partner with OBA to bring a profitable, efficient, and compliant mortgage solution to its member banks.”
About Oklahoma Bankers Association
For more than 100 years, Oklahoma banks have relied upon the Oklahoma Bankers Association to address their changing needs and challenges. Today, OBA serves approximately 200 member banks located statewide. Based in Oklahoma City, the OBA assists its members with government relations, educational programs, legal and compliance services, communications, insurance products and numerous products and services. The OBA works with banks to ensure they have the tools they need to support their communities and provides fraud training programs to banks at no charge, as well as financial literacy programs to communities across the state and so much more. The OBA owns two subsidiaries – the OBA Services Company and the OBA Insurance Agency, which specialize in products and services for the banking industry. While the OBA offers a wide variety of services and benefits to its members, it’s efforts can be summed up in four simple words: We Make Bankers Better! For more information, visit https://www.oba.com.
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.