Embrace Home Loans, Eastern Bank partner to boost mortgage services

Embrace Home Loans last month partnered with Boston-based Eastern Bank to provide operational resources and support loans originated by the bank.
Embrace Home Loans last month partnered with Boston-based Eastern Bank to provide operational resources and support loans originated by the bank.

NEWPORT – Embrace Home Loans last month partnered with Boston-based Eastern Bank to provide operational resources and support loans originated by the bank.
Embrace Home Loans, A Newport-based direct mortgage lender, announced the new partnership with Eastern Bank, which is the Bay State’s largest community bank with $9.9 billion in assets and nearly 100 branches throughout Massachusetts and New Hampshire. Embrace, in a press release, said the partnership will allow Eastern to focus on delivering superior customer service and increase its competitiveness through speeding up loan closing, enhancing real-time connectivity with referral partners and improving the overall borrower experience.
“The housing market is continuing to strengthen in the New England area with double-digit percent gains in the first quarter of the year, according to the Massachusetts Association of Realtors,” said Joe Riley, executive vice president of consumer banking at Eastern, in a statement. “In response, we needed to develop strategies not only to ensure a competitive edge in residential mortgage lending but to also provide our customers with a superior home financing experience. We’re excited about our partnership with Embrace and look forward to the value it will provide to the many New England communities that we serve.”
Embrace, with more than 70 offices in 46 states, is a direct lender for Fannie Mae and Freddie Mac, approved by the FHA and VA, an issuer for Ginnie Mae and partner of the banking community.
“We’re honored to team with such a respected institution as Eastern Bank. And proud that the solutions we’re providing the banking community is allowing them to improve the quality and the quantity of their residential mortgage business,” said Kurt Noyce, president of Embrace, in a statement.

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