ABA Community Bank Mortgage announces jumbo deal

by MPA10 Jul 2014
ABA Community Bank Mortgage has entered into a deal that will open up jumbo products to its owner banks.

The company has announced Five Oaks Investment Corp as its newest secondary market investor, allowing its owner banks to sell non-conforming jumbo loans on a servicing-released or servicing-retained basis to Five Oaks, as well as opening access to Five Oaks' line of fixed rate and ARM products.

"Our alliance with Five Oaks will provide owner banks with competitively priced jumbo products in markets that have previously been inaccessible," said Deborah Whiteside, president and COO of ABA Community Bank Mortgage