Leveling the Playing Field for Community Banks!
What is ICBA SmartLender?
ICBA SmartLender is a comprehensive suite of mortgage-related products and services that
can help you
Reduce closing costs for you and your borrowers
Provide bundled settlement services–at a guaranteed price
Compete more effectively on price
Target specific homebuyers in your community with custom mortgages
Qualified banks may access ICBA SmartLender for greater credit flexibilities and improved
pricing through an exclusive arrangement with a secondary market investor. If your bank is
currently selling servicing-released to an aggregator in order to be competitive on the street,
ICBA SmartLender offers you a solution. You may find that you can retain your servicing–and
most important–your customers, and remain competitive!
ICBA SmartLender unites lenders and service providers in unique ways:
• By identifying the strengths of ICBA banks–superior credit quality, high closing rates,
strong customer relationships, and aggregated business volumes–ICBA SmartLender
Services has teamed with the best service providers across the nation to create unique
pricing and product offerings, along with cost savings opportunities, specially designed
for community banks; and
• Each designated Premier Value Provider has agreed to performance standards and
Several of the industry’s leaders, known as Premier Value Providers in this program, are lined
up to guarantee you their best pricing and best service, so you can streamline closings on first
and second mortgages and home equity loans and save a bundle in the process. You’ll have
access to alternative products and services that are more efficient and more cost effective.
Choose as many—or as few—as you wish, and there is no fee for participating, so start saving
ICBA SmartLender Network offers you a web-based platform for single-source ordering and
delivery of settlement and mortgage-related products and services from our Premier Value
Providers and your own local vendors, if you choose. Not only does this increase workflow
efficiencies, it also offers you access to bundles of services that enable you to provide
For more information contact: Adriana Klich at 800-216-3664,
firstname.lastname@example.org; Veida Dehmlow at 800-253-5356, email@example.com
What does ICBA SmartLendersm have to offer me?
Advantage 1 You will find over 25 products designed to help you gain competitive
advantage and greater profitability. A comprehensive set of tools ranging from settlement
services, to new profit opportunities, to new product opportunities, to processing flexibilities,
to secondary market execution advantages. You’ll know us by the company we keep: Equifax,
Freddie Mac, MGIC, AON, and Mortgagebot to name a few. Use as few or as many services
and features as you want. The more you use, the greater the benefit. In fact, lenders using
a substantial number will be able increase profitability or reduce costs by up to $1,000/loan
and/or increase volume by 20% or more.
Advantage 2 Small lender or large, direct seller or correspondent, selling servicing
retained or released, you will find many tools designed with your specific needs in mind.
Advantage 3 ICBA SmartLender has done the research, analysis, and negotiations that
you wish you had the time and buying power to accomplish. For each of the Premier Value
Providers, we have done the legwork for you and, in many cases, customized the solution to
the needs of community banks. In addition, you have access to the latest and most
innovative solutions the market has to offer.
Advantage 4 The aggregate buying power of ICBA’s banks means you benefit from Most
Advantageous Pricing* and service level standards from each Premier Value Provider.
Advantage 5 Process your first mortgages and home equity loans/lines faster and at a
lower cost when you use specially designed SmartLender Bundlessm of settlement services.
Advantage 6 Many of ICBA SmartLender’s tools leverage upon key competitive
advantages already enjoyed by community banks:
• A substantial portion of new business is repeat or referral
• Application-to-close ratios are exceptionally high
• Loan default rates are exceptionally low
• Respected in the community and as counterparties in the assumption of risk
• Self-employed and small business owners are a large portion of your customer base
• Many banks have access to in-house title services and closing functions
• Most banks are experienced portfolio lenders
Advantage 7 Be assured that ICBA SmartLender will continue to offer you new and
value-added ways of increasing profitability/lowering costs.
ICBA SmartLendersm offers your bank a comprehensive and cost-effective toolbox
designed to help you get ahead of the competition. It helps you build upon your
natural advantages and helps mitigate the economies of scale enjoyed by some larger
competitors. It offers exclusive and unique features designed specifically for
community banks and it has the strength of the Independent Community Bankers of
America behind it.
* Most Advantageous Pricing is equal to or better than the price offered by the provider to its best
customers or, in some instances, priced at an aggregate anticipated level of SmartLender business.
Premier Value Providers
National providers that offer ICBA banks Most Advantageous Pricing1 and best-in-class
service levels and turn times. You can take advantage of as many—or as few—of
these services as you wish. There is no fee for participating.
Mortgagebot—enhanced private-label web presence/point-of-sale allowing
consumers and bank personnel to capture perfect loan applications
Loan processing and settlement products
Equifax—credit reports: single, joint, and tri-merge
Home Value Explorer® (HVE)—automated valuation database
AMCO—full range of appraisal services including Appraiser-Assisted AVMs
Equifax—home equity closing service at any location
American Title, Inc.—title search, property reports, and recordation
MGIC—private mortgage insurance
ComplianceEase—anti-predatory lending software
Niche mortgage products
Indymac—servicing-retained execution for jumbo loans, conforming and non-
conforming Alt A
Financial Freedom—reverse mortgages for senior homeowners
Banksurance—cost-effective way for banks to offer insurance products without
establishing a traditional agency
Aon Home Warranty—protection plan providing peace of mind for your borrowers
ICBA Reinsurance Program—a new source of revenue from MGIC-insured mortgages
Available via ICBA SmartLender Networksm a web-based platform that simplifies the
ordering and delivery of settlement services and cuts costs.
Most Advantageous Pricing is equal to or better than the price offered by the provider to its best customers or, in
some instances, priced at an aggregate anticipated level of SmartLender business.
Premier Point-of Sale Technology Service Provider
Why use Mortgagebot, an ICBA SmartLender Premier Value Provider?
Advantage 1 Allows you to leverage the Internet to reach more potential homebuyers
and enhance your web presence without spending the time, effort, and expense of developing
Advantage 2 Provides a fully transactional, consumer/point-of-sale web site that you
brand and control.
Advantage 3 Enables you to serve your mortgage customers anytime, anywhere.
Mortgagebot provides real time rate quotes, gathers application information, pulls credit,
renders loan decisions, and offers rate locks to customers in all time zones, seven days a
Advantage 4 This customer-friendly website delivers a convenient, personalized
experience and a perfect loan application each time based on intelligent questioning that’s a
breeze for customers to complete in just a few minutes.
Advantage 5 Mortgagebot enables bank and branch personnel, as well as your
customers, to complete perfect loan applications. Your customers don’t have to wait for an
experienced loan officer to become available.
Advantage 6 Mortgagebot improves efficiency, reduces cycle times, and provides a
highly satisfying user experience. It links to the powerful underwriting systems developed by
Freddie Mac and Fannie Mae, rendering a decision almost immediately. It provides all the
necessary borrower disclosures, as well as highly accurate Good Faith Estimates that include
taxes and fees imposed at the local level of each jurisdiction.
Advantage 7 Integrates seamlessly with most loan origination systems.
Advantage 8 Provides the highest level of data security and encryption in the industry
and is fully compliant from a bank auditing standpoint.
Award-winning Mortgagebot is the leading provider of Internet POS solutions for
community banks. With over 100,000 configuration options, a streamlined
implementation process, and low implementation costs, it is the ideal solution for
ICBA community banks.
For more information contact the Mortgagebot Sales Team:
firstname.lastname@example.org (877) 861-3354 www.mortgagebot.com
Q Is this just an online 1003?
A Absolutely not. It simplifies and guides the applicant to ensure that the right
information is captured to render an accurate loan decision. For instance, if the property type
is characterized as a condominium, the system’s built-in intelligence will then ask follow up
questions about the property to ensure the underwriting engine (LP or DU) properly
underwrites to condo rules. It simplifies the traditional 1003 and reduces the time needed to
capture all necessary data.
Q Who is responsible for hosting the site and maintaining updates to rates,
A Mortgagebot’s solution requires no hardware or software installation. It is a hosted
system managed within a state-of-the-art data center employing the industry’s most
advanced security controls. Interest rates are quickly and easily updated by your institution
as frequently as necessary. For system changes that require testing and review, such as
product, fee, or disclosure changes, an express change management process is used to
complete site modifications within one week.
Q How easy is it to implement? How long does the process take, and is training
and support included?
A Mortgagebot has worked diligently to simplify the implementation process. Each new
client is assigned an implementation specialist who will guide you through the process and
serve as a resource at all times. A variety of mechanisms are available to help make
implementation easy, including in-person kick-off meetings and configuration guides which
clearly map out your options. Generally, banks can implement sites in less than ninety days,
and this includes an ample testing period. Initial training and ongoing support are included
with the solution, along with an extensive online training library. Mortgagebot’s annual Users
Conference is also an excellent opportunity to stay abreast of new product developments and
system best practices.
Q After implementation costs, what other fees am I subject to?
A Mortgagebot’s solution, like other service bureau offerings, involves a monthly
subscription fee, which includes a set number of loan applications, or transactions. After a
pre-defined transaction threshold is reached, a modest fee is collected per transaction. With
this approach you pay additional fees only when your site produces a significant volume of
Q How do we get technical assistance if we need it?
A Mortgagebot provides technical support on a 24/7/365 basis. There are no additional
charges for this or any other kind of support.
by Equifax Mortgage Services
Premier Credit Service Provider
When you need a credit report, why use Equifax Mortgage Services, an ICBA
SmartLender Premier Value Provider?
Advantage 1 The Credit*Hi-Lite Report is a merged in-file report consisting of one, two,
or three credit repository reports that consolidates duplicate trade and public record
information. Result? You get the best information from the Equifax, Experian, and
TransUnion files presented in a clean, concise report.
Advantage 2 Take advantage of the price and pull credit via Equifax and specify the
credit repository of preference, even if you want to use Experian or TransUnion! We have
negotiated this special pricing through Equifax as a reseller of credit.
Advantage 3 You can order credit a number of different ways:
o Via Equifax’s website at www.emortgage.equifax.com
o If you use Fannie Mae’s Desktop Underwriter, you can specify that credit is pulled
o Many loan origination systems allow you to specify the credit provider of your choice
o You can set up an automated EDI (electronic data interface) connection to Equifax
o If you use Freddie Mac’s Loan Prospector, first pull credit by one of the methods above,
then use the reissue reference ($1 fee) to enter in LP.com
o Easiest of all, use the SmartLender Network to pull credit
Advantage 4 Best-in-industry response time helps prioritize loans in production and
allows for quick lending decisions. 95% of orders are completed in 20 seconds or less.
Advantage 5 Always available—backed by a state-of-the-art 24/7/365 platform and
multiple monitoring systems to prevent system outages as well as identify potential problem
areas. And if you need help, support is available: Operations Customer Service is available
8am to 8pm ET, Monday through Friday, and Technical Customer Service is available 6am to
midnight ET and then by duty pager from midnight to 6am ET.
Advantage 6 A FACT Act Consumers Score Disclosure Report is automatically generated
with every credit report ordered—at no extra cost—which you may provide to your customer.
With 104 years of experience, Equifax offers the most valuable combination of price,
service, capabilities, and resources available in the industry.
For more information contact: 800-878-1473 or email@example.com
and identify yourself as an ICBA member.
Q When is a 3-repository merged credit report used?
A While a single repository file is often used in home equity lending, the 3-repository
merged credit report is the industry standard for first mortgage loans to ensure that all of a
consumer’s credit history is available during the decision-making process. Because the
national credit repositories do not maintain identical databases of consumer credit
information, each repository’s data may be different on a given consumer’s credit file.
Q Are there circumstances where a 3-repository merged credit report is
A Yes, some underwriting systems like Fannie Mae’s and Freddie Mac’s require a 3-
repository merged report.
Q Which files are included when less than 3 repositories are ordered?
A The files included can be determined a number of ways, depending on a customer’s
preference—by the default setting of an account, by a manual selection each time an order is
placed, or by a zip code preference table.
Q What features on the Credit*Hi-Lite report can be customized?
A Trade categorization: Open, Closed, Derogatory, Installment, Collection, Mortgage,
Delinquent, Non-Delinquent, Not Closed, and Revolving.
Trade sequence (ascending or descending): Account name, Balance, Rating, Late 30, Late
60, Late 90, ECOA, Account Type, and Borrower/Co-borrower.
Other features: Adverse Summary Report, Pay Pattern, Consumer Explanation Letter, Trade
decode/subscriber listing, Credit Summarization, and more.
Q When would I request an update on a Credit*Hi-Lite Report?
A An update (an Edited Credit*Hi-Lite Report) is a convenient, independent, and
inexpensive option when only a few items on a Credit*Hi-Lite Report need verification. 90% of
update requests are completed in 24 hours, and a status update is provided within 48 hours
for requests not completed within that time. Additional processing time may be necessary for
updates that require written communication with the trade or public record source.
Q When I need a full Residential Mortgage Credit Report, what is the turnaround
A Standard turnaround time on Residential Mortgage Credit Reports is between 48 and 72
Premier Flood Compliance Service Provider
Why use Floodwatch, an ICBA SmartLender Premier Value Provider?
Advantage 1 Floodwatch uses several national flood zone determination providers to
offer maximum coverage with instantaneous flood zone determination 88% to 90% of the
time. Manual determinations are completed within 24 hours. Zone determinations are made
to the insurable structure rather than the property boundaries, to provide greater accuracy.
Advantage 2 Errors and Omissions coverage of $10 million is included with the
product—far higher than what is provided through other flood providers.
Advantage 3 In the unlikely case your customer needs to appeal a determination,
Floodwatch will respond within 4 hours to recheck the finding.
Advantage 4 Floodwatch provides your borrower outstanding customer service by
offering a dispute resolution process to address instances where a borrower contests a flood
determination, at no extra charge. FEMA's maps aren't always accurate and issues with
individual determinations sometimes occur.
Advantage 5 To help you comply with the Home Mortgage Disclosure Act (HMDA) and
Community Reinvestment Act (CRA), we can provide census tract data with any of our flood
zone determination products. There is no charge for this service.
Advantage 6 When your borrower needs to obtain flood insurance, Floodwatch will help
coordinate a flood elevation certificate needed to process a flood insurance application and will
help coordinate a National Flood Insurance Program (NFIP) flood insurance quote. Floodwatch
can provide flood insurance quotes on properties within a Special Flood Hazard Area (SFHA),
which requires a NFIP flood policy, or on properties outside an SFHA at no charge.
Advantage 7 Floodwatch offers an ICBA member price of $12 for a flood determination
with life of loan coverage, and an ICBA member price of $9 for a flood determination without
life of loan coverage.
Floodwatch offers your bank a cost-effective, full-service flood determination service,
including technical, accounting, and consumer inquiry support. Find out today why
Floodwatch Premier Value Provider, has been ICBA’s endorsed Flood Compliance
provider for many years.
For more information contact: Tom Becker 330-722-1066 or
firstname.lastname@example.org; or 800-878-1473 or email@example.com
Q What is Floodwatch’s cancellation policy?
A Floodwatch provides a cancellation policy on all determinations. If you request a
cancellation within 24 hours on a completed determination, you will receive full credit.
Manual determinations that have not yet been completed can be cancelled without incurring
any charges. Request for cancellation after 24 hours will receive credit on the life of loan
tracking portion only. This credit must be applied within 120 days.
Q What is Floodwatch’s customer resolution process if a flood determination is
A In the event of a disputed flood zone determination, a recheck is conducted by highly
trained Floodwatch quality control representatives, who research additional source material.
This may include tax maps, parcel surveys, aerial photos, topographical maps, and other
material to determine the base flood elevation. If necessary, a surveyor or engineer may be
called upon to inspect the structure and determine the base flood elevation.
In addition, Floodwatch representatives will assist the borrower in any dealings with FEMA, if
necessary, and help the borrower to obtain the appropriate forms and materials required for
•Letter of Determination Review (LODR)
•Letter of Map Change (LOMC)
•Letter of Map Revision (LOMR)
•Letter of Map Amendment (LOMA)
•Conditional Letter of Map Amendment/Revision (CLOMA/CLOMR)
Floodwatch monitors progress on these processes for clients at no extra charge.
Q What is the difference between a flood determination with life of loan
coverage, and an initial flood determination without life of loan coverage?
A A flood determination with life of loan coverage provides both the initial flood
determination and also a tracking service that advises you of any changes that occur during
the life of the loan, such as the property is now considered to be in a flood zone or vice versa.
This coverage is usually obtained on first mortgages (both purchase and refinance), as most
secondary market investors require it. This also ensures that your loans are always in
A flood determination without life of loan coverage provides the initial flood determination
only, and is generally used for home equity loans and other loans held in a bank’s portfolio. A
portfolio review service is available that provides an automated review of your entire loan
portfolio to determine flood insurance compliance.
Freddie Mac’s Home Value Explorer® (HVE®)
from Equifax Mortgage Services
Premier Automated Valuation Service Provider
Why use Freddie Mac’s HVE, available from Equifax Mortgage Services, an ICBA
SmartLender Premier Value Provider?
Advantage 1 HVE generates a property value estimate within seconds on over 70% of
the homes in the United States.
Advantage 2 HVE accesses 30 years of historical property data and provides 14 years of
use and testing.
Advantage 3 HVE has the highest hit rate and precision in the Automated Valuation
Model (AVM) industry. It also has the most extensive geographic coverage, including over
2,400 counties (and growing) in all 50 states and the District of Columbia. ICBA Smart
Lender Advantage has confirmed that the coverage, hit rate, and accuracy of HVE provides
the best AVM available to community banks. For more information, please go to
www.freddiemac.com/hve. For the number of counties covered in each state, go to
Advantage 4 HVE is available on the Web through Equifax at favorable rates available
only through ICBA SmartLender. With a cost-effective property valuation, you and your
customers can enjoy the savings. And there is no charge if you do not get a hit.
Advantage 5 Each successful hit resulting in a value features a confidence score to help
you evaluate its use. There are three confidence scores:
• High – over 70% of the hits have a score of High.
• Medium – about 25% of the hits have a score of Medium.
• Low – less than 5% of the hits have a score of Low.
Advantage 6 HVE is objective. As a statistically based methodology, human subjectivity
is removed from the valuation process.
Advantage 7 HVE or other AVMs play an important role in your bank’s property
valuation and underwriting procedures. HVE allows you to right size the valuation tool to the
risk situation, using the results of an HVE as the valuation or to target the use of additional
valuation tools, all while better serving the needs of your customer.
HVE offers your bank a well-tested, reliable, and wide-ranging property valuation
method that is instantaneous and cost effective.
For more information contact: 800-878-1473 or firstname.lastname@example.org and
identify yourself as an ICBA member.
Q What types of loans can I use HVE for?
A You can use HVE on any second mortgage, home equity line, or first mortgage that you
retain in portfolio. Secondary market investors currently don’t accept an HVE valuation of
first mortgages, but are expected to do so in the near future. On loans where you use the
HVE, you will find great customer acceptance because you can provide an instant decision and
dramatically lower closing costs—the HVE is just a fraction of the cost of a full appraisal.
Q Isn’t it riskier to use a database valuation rather than an actual appraisal?
A All appraiser created and automated valuations have an error factor associated with a
given value estimate. With an appraiser created appraisal, it is difficult to determine both the
level of accuracy and amount of subjectivity applicable to a property value estimate. An
automated valuation is completely objective and has an assigned statistical estimate of
accuracy. In fact, Freddie Mac has been using AVMs internally for its own risk and portfolio
management for over 14 years. AVM technology has advanced the world of automated
valuation services from a novelty to a necessity. The National Mortgage News recently
reported that over 90% of home equity lenders use AVMs as a primary valuation tool. Today
AVMs are efficient, effective, and essential tools for staying competitive.
The HVE report provides recent neighborhood sales within a 2-mile radius of the subject
property sold within the last year. Up to 10 properties can be listed depending on the level of
sales activity. If a valuation does not seem to agree with the property price relayed by the
customer, or if the confidence score is low, that is the time to order a traditional appraisal.
Use the cost-effective and efficient solution first and traditional valuation methods as your
back up, when necessary.
Q What if I don’t get a hit?
A You can expect a hit about 70% of the time, and HVE’s geographic coverage and
precision is increasing all the time. Nevertheless, AVMs will not drive appraisers out of
business because there will always be a need for appraisals on certain properties.
Q How do I access Home Value Explorer?
A Home Value Explorer is available on the SmartLender Network or directly from
Equifax—it’s just a click away. Just think back to refi mania in 2003. Wouldn’t it have been
great to be able to provide an instant valuation 70% of the time rather than waiting in line for
the next available appraiser? HVE is at the forefront of the drive to improve loan origination
processing efficiencies, lower settlement costs, and make you more competitive.
Home Equity Closing Service
by Equifax Settlement Services, LLC
Premier Home Closing Service Provider
Why use a home equity closing service from a SmartLender Premier Value Provider?
Advantage 1 Provides an unparalleled level of service by closing home equity loans in
your customer’s home, office, or location of choice and at the time of your customer’s choice.
Advantage 2 Saves you money by making the closing function a variable cost and by
eliminating your in-house customer scheduling and closing functions.
Advantage 3 Closings can be scheduled within hours of order placement, subject to
borrower availability. Rush closing orders can be scheduled in just a few hours, depending on
availability of documents.
Advantage 4 Reduces fallout and expedites your loan origination process.
Advantage 5 Closers are carefully screened and trained to meet your needs. They are
never sent on a closing without full instructions on your specific closing requirements.
Advantage 6 Closers have 24/7 access to attorneys to guide them through complex
closings. As closings take place around-the-clock, you may not be available to answer
Advantage 7 Benefit from the experience gained in performing over 200,000 closings
since its founding in 1993. We are confident that you will find the level of accuracy to equal
or exceed your current experience.
Advantage 8 Even if you have other means of conducting your closings, sometimes
borrowers are unable to get to your closing location. Your borrower may be on vacation, on
business travel, on shiftwork, or simply not available during office hours. Give that customer
the ultimate convenience of closing when and where he/she chooses.
Advantage 9 Expand your lending geography and your customer base. This exceptional
service helps extend your geographic reach.
Home equity closing service (witness/notary signings) provides outstanding customer
service by allowing your borrowers to choose the time and location of their closing.
For more information contact: Adriana Klich 800-216-3664
Q Are closers available in all regions–even rural areas?
A A network of 1,500 highly qualified closers, all of which have been personally trained, is
available. They cover all locations in the contiguous U.S.
Q How much does this service cost?
A A home equity line/loan closing in a non-attorney state is $140. For states that require
an attorney to close a loan, the fee is $225. This is a modest amount for the level of service
provided, and you may find that marketing the added convenience of this service attracts
Q What recourse do I have if a customer has a bad experience?
A Customer satisfaction surveys by financial institution clients consistently give this
service the highest ratings of all their settlement service providers. The most recent rating
was a 98.9% level of customer satisfaction. In the rare event of an unsatisfied customer, your
bank receives a credit for the fee and the customer receives a gift certificate commensurate
with the degree of dissatisfaction.
Q What are the typical timeframes for a closing once an order is placed?
A On a rush order, a scheduler contacts the borrower immediately to set up the closing.
For regular closings, the borrower is contacted within 24 hours. The bank may email, FedEx,
or courier the closing documents to the closer, depending on the available timeframe.
Q How is the fee paid?
A The bank or the borrower can pay the closing fee. The bank can be billed on a bi-
monthly basis for fees owed either by the bank or borrower. Many banks choose to pay for
the closing because of the convenience and speed this method of closing brings to the
Q Why do banks use a this type of closing service?
A Banks large and small use a notary closing service for a variety of reasons:
it frees up bank personnel time
it expands the bank’s area of service
it speeds up the closing process
it makes the closing very convenient for the borrower
it provides an option for when you are short staffed.
Bank personnel can be used in more productive areas, such as to originate or process more
loans. Sometimes borrowers find it difficult to come to the bank or an attorney’s office to
close a loan for a variety of reasons: work, children, age, infirmity, etc. Offering borrowers
this type of closing not only gives them the convenience of when and where to close but
significantly reduces the time between approval and closing. You can reach any customer
located anywhere in the world and provide the ultimate in customer service.
by American Title, Inc.
Premier Property Report Service Provider
Why use American Title, an ICBA SmartLendersm Premier Value Provider?
Advantage 1 American Title offers you a way to service your customers no matter
where they live, where they own property, or where they want to purchase property. It can
provide title searches in every county in the United States.
Advantage 2 American Title provides the fastest nationwide turn-times guaranteed. Its
network of abstractors and title companies in all 3,600 counties enable it to offer the highest
quality of information in the shortest time.
Advantage 3 Service to you the customer is American Title’s highest priority. While
technology is important, American Title has not lost the personal touch. Not only is it
committed to continuously updating its systems to be current with the changing technology,
but it also prides itself on having “live” individuals able to assist you.
Advantage 4 American Title’s various title services provide the data needed to satisfy all
your mortgage transactions: purchases, refinances, seconds, and home equity loans.
Last Vesting Deed: Provides the recordable and enforceable legal description, current
conveyances (from the date of the grant purchase deed up to the current date),
assessor’s parcel number (or other property ID), and property address.
Property Report (Owners & Encumbrance Report): Includes the same information as
the Deed/Vesting as well as open voluntary liens such as deeds of trust/mortgages,
status of current taxes, vesting deed county recording information, tax exemption, and
all liens recorded against the property including any lis pendens affecting the property.
Bringdown: Used to check whether new information has been recorded since the
property report was completed.
Recordation: Reviews documents to ensure that all pages, signatures, initials, and
notary seals are legible before sending to the respective counties. Once recorded
originals are received, they are scanned to provide easy, online accessibility by lenders.
American Title sends all documents for recordation via UPS 2-day ground for tracking
purposes. In addition, all county fees are viewable on the website.
American Title Inc. offers you the best in service―on time and right the first time.
For more information contact: Mike Mackintosh 800-589-7329 x113,
email@example.com or Josh Livingston x211, firstname.lastname@example.org
Q What is a Property Report?
A It is a simplified non-insurance title report designed for information purposes to aid in
closing home equity and home improvement loans. It provides all details that might affect the
marketability of the title.
Q What is a Last Vesting Deed?
A It is a streamlined, condensed version of the property report, often used in home equity
transactions and in some cases refinances.
Q What are your industry-leading turnaround times?
A Property Reports are available within 24 to 48 hours; Last Vesting Deeds are available
in less than 24 hours. These reports can be provided by email or fax.
Q I understand that you offer “full legal” descriptions. I have seen some reports
with “abbreviated legal” descriptions. What is the difference?
A American Title only offers full legal descriptions in its products because in some cases
an “abbreviated legal” description is not recordable. A full legal description may be several
pages long while an abbreviated legal is usually a line or two. A full legal description is the
only instrument that can be used for recording at the county level.
Q What is your fee for recordation?
A The fee for our recording service is $25.
Q Why would I want to use your services when I have a good relationship with a
local title agency?
A We have found that most title agencies don’t want to be bothered with property reports
and last vesting deeds. Your local agency may be doing them for you just to support the
business relationship, yet finding that it distracts them from their main line of business. Get
the best of both worlds and keep your local provider for title insurance and use American Title
for the services at which we excel.
Group Reinsurance Program
by Mortgage Guaranty Insurance Corp. (MGIC)
Premier Private Mortgage Insurance Service Provider
Why use MGIC, an ICBA SmartLender Premier Value Provider?
Advantage 1 Expand your market by offering low down payment mortgages to
borrowers who do not make a 20% down payment. Private mortgage insurance (MI) is a
major factor in the nation reaching record levels of homeownership.
Advantage 2 Offset the risk of default by adding private mortgage insurance, which is
paid by the borrower. Borrowers may cancel private mortgage insurance when their loan-to-
value ratio reaches 80%.
Advantage 3 Don’t lose customers to another financial institution; make sure you have
the products to meet the needs of all potential homebuyers.
Advantage 4 Easily meet your CRA goals and know that you are helping many in your
community achieve the American Dream.
Advantage 5 Be able to fund more originations by selling these mortgages to the
secondary market, which requires private MI on mortgages with higher than 80% loan to
value. Or keep them in your own portfolio with the peace of mind that your risk exposure is
no greater than on your other portfolio loans.
Advantage 6 Use mortgage insurance to free up risk-based capital reserves on your
portfolio loans. The risk weighting on whole loans with 80% and above loan-to-value ratios is
100%; when you add private mortgage insurance it drops to 50%. Redeploy those reserves
for income-producing activities.
Advantage 7 Add a new source of revenue by joining the ICBA reinsurance program, in
which MGIC cedes to you 25% of the borrower-paid mortgage insurance premium.
Advantage 8 Gain this new long-term revenue opportunity with a modest capital
contribution and no additional out-of-pocket expenses. The group reinsurance program
minimizes costs to individual lenders, minimizes economic risk due to geographic dispersion,
and allows banks to participate without needing high levels of production.
Private MI is a credit enhancement tool that opens the doors of homeownership to
millions of people. In addition to the risk management and capital relief benefits, you
now have an exclusive opportunity for an additional revenue stream tied directly to
your MGIC-insured mortgages through a group reinsurance program.
For more information contact: Veida Dehmlow at 800-253-5356 or
Q What is a group reinsurance program?
A Reinsurance means that some of the insurance held by one party is passed on to
another entity. In this case, MGIC has insured a certain percentage of loss on a mortgage.
However, in return for a fee, it is passing back to the lender a small portion of risk. If a loss
were to occur, MGIC takes the first 5% layer of loss, the reinsurance program takes the next
5%, then MGIC takes all remaining risk. Note that historically, at the national level, mortgage
insurance losses have never breached that first 5% layer. This is a group program because it
is available to all ICBA member banks. ICBA is the first and only trade group to create such a
program for its members.
Q How much capital is required?
A The capital contribution is a one-time fee of $1,750. There are no other out-of-pocket
expenses. Taxes and administrative fees will be kept to a minimum and are paid from the
accumulated funds in the trust account.
Q How does the program work?
A On each MGIC-insured loan, MGIC pays back 25% of the borrower-paid premium to the
bank. It is paid quarterly and held in a reinsurance trust account for 5 years (by regulation)
before being disbursed as an annual dividend to the bank. A bank’s dividends are based on
its own volume of insured business; however, any losses would be drawn from the pooled
funds of all banks in the program.
Q What is my risk?
A If there were a total economic collapse and all the earnings in the trust fund were
depleted, your risk would be limited to your initial investment of $1,750. As the program is
open to all ICBA banks, any geographic risk is minimized.
Q How many loans do I need to do to make it worthwhile and what happens if
my loans pay off before the five years?
A It doesn’t matter how long the loans are on the books. As long as they are in force,
you are earning income. It takes very few loans to build a sizable dividend, e.g., just 2
loans/month (24/year) could provide a dividend of about $2,500 in year 6; $5,000 in year 7;
$7,500 in year 8, etc. The more loans you do, the greater the income.
Q Are there any RESPA issues?
A No, you are in total compliance. However, you must disclose to your borrower (usually
at closing) that the bank is taking a share of the risk on that loan, allowing him/her to opt
out. As there is no adverse consequence to the borrower, this is rare. The borrower’s
premium is exactly the same whether or not you join the reinsurance program.
Q Are all loans eligible for the reinsurance program?
A MGIC-insured loans sold directly to Fannie Mae, Freddie Mac, or the Federal Home Loan
Banks are eligible. Most other investors also allow participation.
Premier Anti-Predatory Lending Compliance Service Provider
Why use Complianceease, an ICBA SmartLender Premier Value Provider?
Advantage 1 Complianceease offers an anti-predatory lending compliance solution that
makes it easy to stay on top of and comply with rapidly proliferating predatory lending
Advantage 2 With the three services of ComplianceAnalyzer, you will have the tools you
need to implement your bank’s internal anti-predatory lending compliance function. Predatory
lending is getting greater scrutiny from both regulators and secondary market agencies. For
example, Freddie Mac requires its seller/servicers to complete an Anti-predatory Lending
Questionnaire and submit an Anti-predatory Lending Compliance Plan.
Advantage 3 This customized solution designed specifically for community banks is
available in one cost-effective package:
• Unlimited access to the industry’s leading on-line research library, which covers current
and pending matters for federal, state, and local jurisdictions, and is updated daily.
• Email updates alerting you to proposed and implemented legislative and regulatory
requirements. If you don’t think you’re at risk, think again.
• Online compliance checks on your loans. A low monthly fee allows you to perform up to
7 ComplianceAnalyzer audits per month. Additional audits are available at a low per-
Advantage 4 There is no initial set-up fee.
Advantage 5 Complianceease's solution dramatically simplifies the audit workflow
process, using proprietary technology to ensure its accuracy and integrity. The technology
employs advanced analytics to automatically identify instances of non-compliance and explain
them in easy-to-read findings reports. In a matter of seconds, depending on Internet
connectivity, the system renders real-time decisions and automatically calculates a color-
coded RiskIndicator and a RiskScore indicating to users the level of risk of non-compliance.
Audit a suspect loan or do a batch audit monthly.
Advantage 6 Our research identified ComplianceAnalyzer to be the only solution to
provide a quality product with the necessary research and audit capabilities, at a cost-
ComplianceAnalyzer offers your bank a cost-effective, comprehensive anti-predatory
lending compliance solution. Find out today why Complianceease is an ICBA
SmartLender Advantage Premier Value Provider.
For more information contact: Josh Felder 650-373-1111 x1210 or
Q What does ComplianceAnalyzer cover?
A The ComplianceEaseSM Platform has the most intelligent, comprehensive suite of
automated compliance systems available, including:
Tests against HOEPA "Rate" and "Points and Fees" triggers, from enactment (1995) to the
Automatic calculations of comparable treasury security yields, Fannie Mae and Freddie
Mac required net yields, and numerous other financial indexes and data points
Jurisdiction-specific "Points and Fees" definitions
Dynamically determines Median Family Income for MSA based on property location
Precise business day calculation for TILA rescission notices and Section 32 disclosures
Validates criteria against state lending regulations based on license type
Analytical test results detailed in narrative reports tailored to each law and regulation
ComplianceAnalyzer is leading and setting standards in automated transactional-level
mortgage compliance audit.
Q My bank only deals in A-paper. How important is this type of compliance for
A Compliance with anti-predatory lending laws is a complex, evolving, and very costly
endeavor if you do not have the tools to automate the process. Many financial institutions
have been forced to cease operations in cities and states where they do not have the
resources to comply with the complex and frequently changing statutes and ordinances. This
solution is an easy, cost-effective way to eliminate liability.
Q Who does Complianceease’s research and legal reviews?
A Research and legal reviews are lead by outside general counsel Donald Lampe, partner
of Wombe Carlye Sandridge & Rice, PLLC. Mr. Lampe is one of the nation’s leading authorities
on anti-predatory lending laws. Wright Andrews, partner of Butera & Andrews, a well-known
lawyer specializing in anti-predatory lending, heads up government relations.
Q If the characteristics for a loan have changed, is there a charge for rechecking
that loan if I’ve already done an audit?
A There is no extra charge if it is within your 7 audits per month. There is a small charge
per audit beyond the 7 included audits.
Q Would access to the ComplianceAnalyzer platform be sufficient to meet
Freddie Mac’s–and any other secondary market investor’s–anti-predatory lending
A ComplianceAnalyzer is recognized by Freddie Mac as an excellent means of screening
for instances of non-compliance and explaining them in narrative findings reports. It is the
core of an anti-predatory lending compliance program.
Premier Provider for Servicing-Retained Jumbos and Alt A Mortgages
Why choose Indymac, an ICBA SmartLender Premier Value Provider, as the investor
for your servicing-retained jumbos and Alt A production?
Advantage 1 Keep your important jumbo borrowers in-house with the Indymac
Advantage 2 Be assured of Most Advantageous Pricing for your loans. Indymac
recognizes the credit quality of your production and your pricing reflects that. In addition,
when the aggregate delivery volume of ICBA member banks reaches certain annual
thresholds, you will receive a pricing bonus based on your deliveries to Indymac.
Advantage 3 Indymac has reduced its servicing-retained delivery commitment from $50
million to $10 million in annual sales—which can be reached through delivery of any
combination of retained, eligible products. You also enjoy funding fees lower than those paid
by its regular correspondent customers.
Advantage 4 Easy web access to Indymac’s underwriting engine e-MITs, and you have
delegated underwriting authority up to $1.5 million per loan, which includes firsts, seconds,
investor properties, and 2-4 units.
Advantage 5 Enjoy a range of popular options for your jumbo product, including jumbo
refinances—cash out and non cash out; jumbo ARMs—with a selection of indexes and interest-
only options; and full doc or stated income for FICO scores of 660 or higher.
Advantage 6 A similar variety of servicing-retained Alt A conforming and jumbo loans
are available to meet a range of borrower needs, including full doc, stated income, no
income/no asset, no ratio, and no doc options.
Advantage 7 Availability of best efforts or mandatory delivery commitments, and lock-in
periods ranging from 15 days to 180 days.
Advantage 8 Product, operational, and technology training, along with dedicated
support to help you through the approval process and on every transaction you submit.
Advantage 9 Indymac prides itself on its service levels and posts guaranteed turn times
on its web site. You will receive priority fulfillment that will equal or exceed those levels.
Indymac is committed to earning your business with products, pricing, and service.
For more information contact: Veida Dehmlow at 800 253 5356.
Q Can I sell to Indymac loan by loan?
A Yes. You may sell loans for cash on a flow basis, under a best efforts or mandatory
rate-lock commitment, with a 12.5 basis point price enhancement for the mandatory.
Q What’s involved in getting approval to sell loans to you? How long will it take?
A Indymac has a streamlined approval process for financial institutions, and you have a
team dedicated to ensuring a fast turnaround. If you are selling loans to Freddie Mac or
Fannie Mae and servicing those loans, the technical requirements are similar, and there
should be little or no additional infrastructure required.
Q What remittance schedule do you use?
A You will remit regular monthly payments on a single remittance actual/actual basis on
the fifth business day after month-end cutoff; thus, you will receive up to 35 days of float
each month before remitting to Indymac. Payoffs and curtailments are remitted by the fifth
business day after receipt from the borrower.
Q What fees do we earn on servicing?
A Like a GSE execution, you would earn 25 basis points on fixed rate loans and 37.5 basis
points on adjustable rate loans.
by Financial FreedomTM
Why use Financial Freedom, an ICBA SmartLender Premier Value
Advantage 1 Expand your market by meeting the needs of your senior customers as
well as their children. The demographics tell a compelling story: there are over 22 million
senior homeowners with over $3 trillion in home equity.
Advantage 2 Enable homeowners age 62 and above to protect and enhance their
lifestyle by releasing some of the equity in their homes.
Advantage 3 Add a new source of revenue and stem attrition in the savings accounts of
Advantage 4 Add a new cross-selling opportunity for investment and insurance
products. Reverse mortgages are often used as an estate-planning tool in which funds are
used to purchase annuities, long-term care insurance, or other investment products.
Advantage 5 Don’t worry about staffing up to be able to offer reverse mortgages. You
can play a small role in the process or take a larger role – it’s up to you, and the revenue
opportunity matches your level of contribution to the transaction.
Advantage 6 No need to be FHA approved to offer reverse mortgages. Although the
FHA-insured Home Equity Conversion Mortgage is the most popular reverse mortgage
product, you can offer it without FHA accreditation.
Advantage 7 Offer jumbo reverse mortgage products also, including a no-cost jumbo.
Advantage 8 Use eligible reverse mortgage products to help meet your CRA goals.
Advantage 9 Access Financial Freedom’s Reverse Mortgage AnalyzerTM software to find
the right product for your customer and print out the easy-to-use financial illustrations for
With Financial Freedom Senior Funding Corporation, you are working with the nation’s
largest originator and servicer of reverse mortgages. As a trusted financial advisor in
your community, you are in an ideal position to expand your product line by offering
reverse mortgages to senior customers – and adding a significant revenue source to
your bank with no resource investment necessary.
For more information contact: Elizabeth Deal at 800 253 5356.
email@example.com and identify yourself as an ICBA SmartLender participant.
Q What is a reverse mortgage?
A Reverse mortgages are non-recourse loans that allow senior homeowners age 62 and
older to convert home equity into cash:
Without leaving their homes
Without income to qualify
Without making monthly payments
Without having to repay the loan until they move out permanently or pass on
Q In what form are the funds available to the borrower?
A Tax-free loan proceeds available to the homeowner are based on the age of the
homeowner(s), the home’s value, its location, and the interest rate of the mortgage. The loan
proceeds are available as a lump sum, line of credit, monthly payment, or any combination.
Unlike a regular mortgage, the loan has no specific term. Funds are paid to the borrower even
if he/she lives longer than actuarily expected. The loan amount of principal plus accrued
interest is repaid after the homeowner permanently leaves the home, generally from the
proceeds of the home’s sale. The heirs/estate receive any proceeds that exceed the
Q What makes a senior homeowner eligible for a reverse mortgage?
A There are no income, credit, or medical requirements, but the homeowner(s) must be
at least 62 years of age.
Q What types of reverse mortgages are available?
A Financial Freedom offers a complete range of reverse mortgage options. The FHA-
insured “HECM” (Home Equity Conversion Mortgage) accounts for about 95% of all reverse
mortgage originations, and it has loan limits in accordance with FHA guidelines; Fannie Mae
offers the Home Keeper product, which has a loan limit that matches the conforming limit;
and Financial FreedomTM offers 3 jumbo products -- Cash AccountTM Standard, Zero PointTM,
and Simply ZeroTM with no loan limit.
Q What does my bank have to do in the transaction?
A If your bank is not FHA approved, you can be an Advisor for the HECM product, which
means that you simply market the product and provide some basic borrower counseling. If
the bank is FHA approved, you will perform as a Correspondent and be responsible for
processing the loan. However, Financial Freedom will underwrite, fund and close the loan and
then service it.
Q Is there a RESPA problem if I act as an Advisor and receive a fee?
A No. The program and levels of participation have been scrutinized by a prominent
RESPA attorney, who has rendered an opinion that compensation to banks at whichever level
you choose does not violate RESPA. You will also receive a checklist with your marketing
materials that allows you to document and save in the loan file every task you perform on
Bank-owned Insurance Solutions
The simple solution that allows you to offer your consumer & business
customers a full range of property & casualty insurance products!
Why use Banksurance, an ICBA SmartLender Premier Value Provider?
Advantage 1 Its unique bank-owned insurance agency structure allows you and other
ICBA banks to participate in the ongoing profits of insurance placement by joining together as
owner/members of Banksurance Agency LLC.
Advantage 2 The establishment or acquisition of a licensed “in-house” insurance agency
is expensive and complex. The Banksurance strategy is driven by cutting edge technology and
The Aon Corporation’s worldwide network of service providers. Thus, personnel and
compliance costs are a fraction of what they would be in the “in-house” approach. Your total
investment in the Banksurance Agency LLC is $5,000, which is typically recouped in first year
dividends from the bank’s own internally placed business.
Advantage 3 With our world-class insurance products, turn-key approach, and advanced
technology, you can offer a comprehensive array of insurance products, such as homeowners,
flood, auto, boat, builder’s risk, surety bonds, and others. Place your bank’s own existing
insurance needs with Banksurance (e.g., D&O, Fidelity Bond, etc.) and participate year-after-
year in the profits generated from this placement.
Advantage 4 As an owner/member of Banksurance Agency LLC, you’ll enjoy access to
numerous A-rated insurance companies on the best terms available from the insurers, made
possible by Banksurance’s relationship with The Aon Corporation.
Advantage 5 Lending-focused technology that integrates workflows and loan and
insurance information starting at point of sale. This allows for the capture of common data
once, coordination of communication, integration with closing documentation, and placement
of customers’ insurance needs with the appropriate risk management specialists
automatically. Your staff is continuously updated regarding the status of coverage and
documentation, resulting in fewer delayed closings. You may print key loan closing insurance
documents from any loan origination or loan documentation system.
Advantage 6 Compliance and risk management headaches are minimized with
Banksurance Agency’s skilled and experienced management team. Enjoy capabilities found
only in the largest and most sophisticated insurance brokers, such as full licensing and
compliance in all 50 states.
Enjoy the profits of insurance placement with minimal investment and no regulatory
For more information contact: Steven J. Serenska at 401-253-3198 or
firstname.lastname@example.org and identify yourself as an ICBA member.
Q Do bank employees need to be licensed?
A No. While loan officers, loan processors, and other bank employees may make
customers aware that the bank offers insurance products, all discussion and counsel are
handled by Banksurance’s licensed agents. Through Banksurance’s linking technology, our
agents are able to see the customer’s data as it appears on the loan application.
Q What about privacy issues?
A Customer data is shared with Banksurance only after receiving explicit permission from
the customer or in accordance with the bank’s privacy statement, or both.
Q Will my bank receive a commission for the sale of insurance products?
A Only licensed insurance agents and insurance agencies can be paid insurance
commissions. However, by owning stock in a licensed insurance agency such as Banksurance,
your bank is entitled to receive commission-driven dividends.
Q How much might the dividend be on a $200,000 homeowner’s policy?
A While many factors affect the level of dividends, on average a $200,000 homeowner’s
policy might generate $35/year in dividends to a bank owner. This amount would compound
annually for each policy that renews. Commercial policies generate commensurately larger
Q Can a bank pay its employees for making a customer aware that the bank
offers insurance products?
A The answer is “Yes”. However, since Banksurance’s technology automatically generates
referrals to the bank-owned insurance agency, most banks find that the process works so well
that additional personnel incentives are not necessary.
Q May my bank continue to obtain its D&O coverage through St. Paul?
A Yes, your Banksurance Agency is an agent for St. Paul, thereby giving you an additional
profit opportunity because you will participate in the agency’s profits from the placement of
your bank’s own insurance needs with St. Paul and other bank insurance providers.
Aon Home Warranty Services (AHWS)
from FPRSI, a division of The Aon Corp.
Premier Home Warranty Service Provider
Why use AHWS, an ICBA SmartLender Premier Value Provider?
Advantage 1 AHWS provides cost-effective protection for the essential home systems
and appliances your bank customers depend on most. AHWS’s comprehensive program
provides coverage for a home’s heating, air-conditioning, plumbing and electrical systems,
and most major appliances.
Advantage 2 The warranty ensures repairs are completed promptly, correctly, and
affordably. With a pre-screened and licensed network of over 6,000 service professionals,
you can rest assured that only the most competent professionals will be dispatched to your
customer’s homes. Service professionals are evaluated on capacity, service hours, customer
feedback, discounted rates and locality to the insured. AHWS customer service
representatives are available 24/7 to respond to your customer’s needs.
Advantage 3 AHWS provides coverage without inspections. Covered items are repaired
or replaced regardless of the age, make, or model—and every repair is guaranteed to be done
right! Comparable replacement is provided when covered systems or appliances cannot be
Advantage 4 AHWS provides coverage where a homeowner’s policy doesn’t; for
instance, most homeowner’s policies do not cover mechanical failures of home systems and
Advantage 5 You can offer added value to your mortgage customers with no effort on
your part, and earn a small fee in the process. Simply forward mortgage applicant leads to
AHWS, and they sell the program.
Advantage 6 The AHWS Home Protection Plan is a great tool for sourcing more Realtor
business. Realtors can offer their clients 12 months of protection as a bonus when a loan
closes. It’s a great option to offer to Realtors that direct their homebuyers to your bank for
Advantage 7 At $389 per year*, with a modest $75 deductible per call, the AHWS Home
Protection Plan is a small price to pay for peace of mind. *Fee and coverage varies in the
states of CA, FL, MA, NV, TX, and VA.
This reliable home protection plan is a way to provide additional value to your
customers and a great way to source new business.
For more information contact: Tom Becker 330-722-1066 or
Q What exactly is covered under the AHWS Home Protection Plan?
A A homeowner’s most valuable appliances and systems are covered, including central air
conditioning, central heating, ductwork, water heater, basic plumbing, electrical systems,
dishwasher, range/oven/cooktop, and built-in microwave oven. Coverage on additional items
may be purchased, also.
Q What if the appliances are really old?
A It doesn’t matter. As long as they’re working when the contract goes into effect,
Q How can I be sure of the quality of the service people I am recommending to
A The service professionals have undergone an extensive screening and selection process
which typically includes, but is not limited to, license checks, background checks, interviews
with previous customers, and/or checking of other references. No one is recommended to
you unless they meet AHWS’s stringent requirements.
Q What do they do if they need a repair?
A Very simple. They call the toll-free number 24 hours a day, 365 days a year. They
need their contract number and then tell the customer service representative the nature of
the repair need.
Q What happens next?
A An AHWS customer service representative will contact a service contractor in their
neighborhood and will set up a date and time for service most convenient for your customer.
When the service contractor arrives to make the repair, the customer simply pays him the
$75 deductible, and AHWS takes care of the rest.
Q What if the repair professional doesn’t show up?
A This rarely happens, however, should a problem of any kind arise, a call to us will
ensure the problem gets resolved quickly.
Q When does coverage begin and renew?
A Coverage starts on the “Contract Effective Date,” which is 30 days after the “Contract
Sold Date,” both of which are specified on the Coverage Summary of the Home Protection
Plan Service Agreement. A fulfillment package will be delivered to each insured within 7-10
days. Renewal notices are sent out 3 months before the contract termination date.
Customers may renew their contract at that time.
Local Service Provider Participation
in ICBA’s SmartLender NetworkSM
Why join ICBA’s SmartLender Network?
Advantage 1 Finally, an easy to use vendor network that levels the playing field for local
service providers like you. Remain competitive by helping your customer be more efficient
when using your services. Your bank customer has elected to order many of its mortgage
settlement services via a web-based electronic platform called the ICBA SmartLender Network
and invites your participation.
Advantage 2 Your customer has selected this Network to enable both you and it to save
time and money. It’s simple for you to participate. No resource-intensive integration or set-
up is necessary. No development or programming costs and no system maintenance. All you
need is web access. It’s an easy way for you to preserve and strengthen your relationship
with your customer yet achieve competitive parity with national companies that are offering
Advantage 3 Your customer will enter your orders on the Network, which you’ll receive
via the Network or by email or fax. You may also view and update order status over the Web.
You may fulfill your orders via the Network (simple and expeditious) or fax (if a fax is
acceptable to your customer).
Advantage 4 The Network is designed to streamline the process of placing, receiving,
tracking, and delivering orders, enabling both parties to achieve time and cost efficiencies. As
both parties have access to order status and fulfillment you’ll save time and money on
customer service issues and duplicate fulfillment.
Advantage 5 Dedicated vendor-view screens allow you to monitor and track your
orders, receive and send updates, attach documents, and print transaction reports. Any
existing invoicing or payment arrangements with your customer will remain the same.
Advantage 6 The Network never sleeps! You can receive and fulfill orders around the
clock and 365 days of the year. It is fully secure – it has been developed by Equifax – so you
can have complete confidence that any sensitive data is safe.
Advantage 7 With a faster, easier experience for you and your bank customer, you may
well find that you receive additional orders than with your current method of doing business.
Additionally, once on the Network, you have the opportunity to be selected by other banks in
your market area.
Be sure to take advantage of your bank customer’s desire to use ICBA’s SmartLender
Network and maintain – and build on – your valuable business relationship.
For more information contact: 800-878-1473 or email@example.com
Q Is there a fee for my access to the SmartLender Network?
A There are no start up costs (assuming you have web access) or initial membership fee.
You will pay a very modest transaction fee only for the orders submitted to you. (See fee
schedule attached.) The existing payment arrangements with your customer for the actual
product or service remain intact.
Q What happens if an order is canceled?
A The Network tracks orders placed. If an order is canceled within the same business day
it was placed, you will not be charged a transaction fee. For any cancellation after that, the
modest transaction fee will be payable to SmartLender Network. However, whatever policy
you have in place with your customer for canceled orders remains the same. However, as
you are aware, community banks are known for having a very low fallout rate.
Q What if I’m an appraiser and do not have the ability to create an electronic file
(e.g. PDF file)?
A Again, you would be able to fax appraisals but you lose the efficiency of the Network,
which at some point in the future time may also result in you losing your customer.
Q What is the set-up process?
A You will need to sign an End User License Agreement, allow us to set up a merchant
credit card account for payment of the transaction fees, and undergo some minimal training
on the Network. We will set up your initial profile on the Network and provide you with
customer support information should you have any questions.
Local Provider Fee Schedule
Life of loan $0.17
1004 URAR (Single Family) $5.00
2070 Drive-by $4.00
2055 Interior $4.50
2055 Exterior $4.50
1073 Condo $4.50
1025 Multifamily $5.00
Desk Review $2.50
Field Review $4.00
Land Only $4.00
ALTA Concurrent Lender/Owner $8.00
ALTA Lender $8.00
ALTA Owner $8.00
Last Vesting Deed $0.75
Property Report $1.00
Property Report w/Bringdown $1.00
Purchase Money Signing/Closing $5.00
Refinance Signing/Closing $5.00
Home Equity Closing $3.00
Recordation Service $1.00
Fee is payable on each submitted order.
ICBA/Freddie Mac Alliance
Leveling the playing field for your bank
Whether you’re originating $20 million, $100 million, or $300 million or more of
conventional, conforming loans, consider the advantages of selling directly to Freddie
Mac through the ICBA/Freddie Mac Alliance.
Advantage 1 If you’re currently selling your mortgages as a correspondent or broker,
wouldn’t you prefer to keep your mortgage customers rather than selling them to your
banking competitors? You can be both profitable and meet the competition by selling
DIRECT to Freddie Mac and servicing your own loans. Banks using the Alliance are meeting
the competition, including Ditech, on rate, fees, and features. Banks using the Alliance
originate loans at a profit and create a servicing portfolio generating an on-going stream of
fee income. And, with today’s technology, it’s easier than ever to sell direct to Freddie Mac.
Advantage 2 The Alliance’s cash sale execution has special advantages designed to
improve profitability and meet the competition.
Advantage 3 Need more profitability? Use the Alliance’s recourse cash sales execution
to further improve profitability.
Advantage 4 Don’t have a servicing operation–and not sure if you want to make the
investment? Consider our specially-designed and specially-priced private-label subservicing
option. You maintain the relationship with your borrowers while your entire mortgage
servicing operation is performed for you behind the scenes. And rest assured that you’ll be
able to offer your customers a range of mortgage products that will be expertly serviced on
Advantage 5 Increase profitability, solidify your customer base, and gain a competitive
edge using exclusive Alliance customized loan processing options and credit flexibilities. The
Alliance flexibilities are designed with your customers in mind, whether employed or self-
employed, or purchase or refinance transactions.
Advantage 6 Innovative mortgage products with favorable Alliance pricing will help you
reach more borrowers. Meet the needs of your market with Guaranteed Rural Housing
mortgages, Bi-weeklies; ARMs; 5- and 7- year balloon/reset mortgages; affordable housing
products; converted and modified mortgages; and much more.
Advantage 7 State-of-art technology through Loan Prospector® will streamline your
mortgage origination process at the point of sale and enhance your mortgage sourcing
capabilities to attract more borrowers. Loan Prospector helps you to quickly and easily
approve more mortgages and close loans faster.
Advantage 8 Combine the power of Mortgagebot® with Loan Prospector and you have a
complete consumer point-of-sale web site that is bank branded and can be loan officer
specific! Now you can leverage the Internet to reach more borrowers and have your loan
officers available 24/7 to your customers. Mortgagebot’s intelligent system allows consumers
and/or your frontline staff to expertly capture a full application. Now your customers can be
approved online and lock in their rate. That’s both service AND increased profitability! All this
… and favorable Alliance pricing.
Advantage 9 The comprehensive set of Alliance benefits includes training opportunities
ranging from mortgage origination, securitization, portfolio strategy and sale options to many
others. You can participate in complimentary Freddie Mac web-conference training sessions
from the comfort of your office.
Advantage 10 Get the personalized touch from Freddie Mac. Each participating ICBA
member will have a dedicated resource for assistance with your affordable lending strategies
and products for low and moderate-income borrowers; a knowledgeable account manager
who can assist with execution, credit, and product questions; and a dedicated investor
accounting resource to help you with your servicing needs.
Advantage 11 Special quality control features unique to the Alliance help you avoid the
risk of repurchase requests.
Advantage 12 Further increase your profitability and raise customer service levels when
you use ICBA SmartLender’s Premier Value Providers, many of whose services are specifically
designed to complement the Alliance’s customized flexibilities. Meet the competition with low
closing cost packages, faster loan closings, and innovative products and services that lower
costs for your customers and improve profitability for the bank.
Advantage 13 Be assured that the Alliance benefits are dynamic and are continuously
being improved to meet the ever-changing challenges of your marketplace.
The ICBA/Freddie Mac Alliance and ICBA SmartLendersm offer your bank the means to
level the playing field. You can meet your competition head on without having to give
away your customers in the process. We can show you how to boost your originations
and your profitability.
For more information contact: Adriana Klich at 800-216-3664 or
firstname.lastname@example.org; or Veida Dehmlow at 800-253-5356 or email@example.com