Promontory Fulfillment Services LLC Chosen as a North Carolina Bankers Association Endorsed Vendor
Community banks in North Carolina have gained a new option for offering mortgages as a core product without the expense and burden of supporting an entire mortgage operation, Promontory Fulfillment Services LLC (PFS) announced.
PFS, a provider of tech-driven mortgage fulfillment solutions, announced that Community Bank Services (CBS), a wholly-owned subsidiary of the North Carolina Bankers Association (NCBA), has officially endorsed its comprehensive mortgage fulfillment services and proprietary point-of-sale technology, Borrower Wallet®.
PFS’ best-in-class mortgage fulfillment services were selected for their ability to help community banks manage costs and remain competitive in the face of ever-increasing built-in expenses. Banks working with PFS gain the support of a partner focused on deploying its expertise and industry-leading practices to help banks seamlessly serve their customers.
CBS also recognized PFS’ innovative point-of-sale technology, Borrower Wallet®, for its ability to deliver a consistent, transparent digital borrower experience while significantly enhancing lender compliance.
Kim T. Hutchens, EVP for CBS said, “In today’s banking environment, increasing regulatory and compliance burdens have pushed costs higher and squeezed profits, driving many community banks out of the mortgage business. PFS has put together a service that will allow our banks to provide mortgage services in a first class, profitable, efficient and customer-focused, secured program. With PFS’ comprehensive set of mortgage origination and operations solutions, banks can determine their own product and loan-pricing strategies while PFS provides the process. The leadership team at PFS has gained a strong reputation based on its deep knowledge of the mortgage process. The North Carolina Bankers Association and Community Bank Services look forward to working with the PFS team.”
PFS delivers a tailored, modern and cost-effective set of mortgage fulfillment solutions unique in the market. With the PFS solution, loan officers leverage Borrower Wallet® to co-pilot the application process and collaborate with their borrowers. PFS then processes and underwrites each loan using client-provided business rules and closes in the bank’s name.
“We’re honored our tech-driven residential mortgage fulfillment services are endorsed for their ability to help banks increase profitability, drive origination growth and transform the customer experience,” said Paul Katz, managing director and head of bank relations at Promontory MortgagePath. “We’re committed to delivering a faster, simpler, and more-inclusive mortgage process and are delighted to help the NCBA empower its member banks to participate profitably in residential lending.”
About North Carolina Bankers Association
The North Carolina Bankers Association (NCBA) brings together all categories of banking institutions that best represent the interests of our rapidly changing state. Proudly serving North Carolina’s banking industry since 1897, the NCBA is the professional trade organization providing advocacy, leadership and support for its dynamic membership base. The NCBA, headquartered in Raleigh, actively promotes the professional and educational development of its members and affiliate members, and hosts countless annual events, conferences, and professional development programming. Through its government relations activities, the NCBA communicates with the North Carolina General Assembly, the U.S. Congress, and banking regulators on behalf of its member banks, savings institutions, and trust companies. The NCBA also provides media relations support and regulatory and compliance assistance.
About Promontory Fulfillment Services LLC
PFS and PromonTech are part of Promontory MortgagePath, a company led by Gene Ludwig, the former U.S. Comptroller of the Currency. PFS, based in Danbury, Conn., provides comprehensive mortgage fulfillment services, enabling lenders to offer a full range of mortgage products profitably and efficiently. PromonTech, based in Denver, develops innovative lending technology, delivered to the market through PFS. Promontory MortgagePath brings together seasoned mortgage operations and compliance experts and trailblazing technology leaders to provide industry-leading solutions transforming the lending landscape.