Industry News

Freddie Mac, banking group extend marketing partnership

Program aims to help bankers compete for borrowers

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America's Community Bankers and Freddie Mac announced today that they have agreed to renew through 2009 an alliance agreement that is intended to help bankers compete for borrowers. First announced in February 2002, the ACB-Freddie Mac alliance package provides member institutions with a suite of benefits including secondary marketing programs, customized training, preferential access to third-party vendors and Freddie Mac's proprietary mortgage technology and mortgage products – including Freddie Mac's Home Possible mortgage suite for low-income and moderate-income borrowers, according to the announcement today. Paul Mullings, Freddie Mac senior vice president for single-family sourcing, said, "This outstanding alliance ensures ACB members will continue to have the muscle to protect and build their market share in an increasingly challenging market. Today's announcement reaffirms Freddie Mac's commitment to focusing on our customers by giving them the tools and options they ne...