America’s Labor Bank – Amalgamated Bank has launched a new alliance with PHH Mortgage to provide customers with a comprehensive range of home financing services, from pre-approval letters to loan origination and loan servicing.
Amalgamated will provide personalized service and home financing options. The new mortgage products include fixed and adjustable rate programs as well as Jumbo, second/vacation homes and second-mortgage financing. Customers can also receive mortgages for condos and cooperative apartments as well as one-to four-unit, multi-family houses.
Derrick Cephas, President and CEO, Amalgamated Bank, said: “By joining with PHH Mortgage, one of the largest and most experienced home financing companies in the nation, we now have the capability to offer members of the Amalgamated family a wide array of mortgage programs. Just as important, we will help our customers understand the options within their financial reach and provide all the facts to help them borrow intelligently and responsibly.”
Bob Andwood, Senior Vice President of Private Label Solutions, PHH Mortgage, said: “Our platform will help Amalgamated offer the best in class mortgage program that is consistent with its customer value proposition and will position the Bank for competitive success.”
PHH Mortgage, a subsidiary of PHH Corporation, provides mortgage services to financial institutions, real estate brokers, affinity groups, credit unions, corporations and government agencies.
Established in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank is an FDIC insured commercial bank with $4.5 billion in assets. It offers retail banking, banking, commercial banking, commercial real estate and community development services.
