Thursday, October 21, 2021

Week of July 19

In This Issue…

ABA urges bankers to encourage lawmakers to co-sponsor ECORA Act

ABA is calling on bankers to encourage their lawmakers to co-sponsor the Enhancing Credit Opportunities in Rural America Act—a bill that would promote greater access to credit and reduce borrowing costs for ag producers.

As net farm income declines, the availability of low-cost credit is extremely important to the agricultural sector, and bankers are urged to ask Congress to co-sponsor this important bill to help the nation’s farmers and ranchers and revive rural ag economies. Click here to  generate a letter to your member(s) of Congress.

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OBA Emerging Leaders Academy now accepting applications

Take note the OBA 2021-22 Emerging Leaders Academy is currently accepting applications.

We’re looking for the best and brightest bankers who seek to sharpen their leadership skills. The Academy will help you reach new heights with powerful speakers offering information leaders need for effectively maneuvering in today’s business climate. Each session helps participants become true leaders by understanding those around you through non-traditional methods.

The OBA extends an invitation to any employee of a bank that is a member of the OBA to apply. A panel of bankers will review the applicants and choose those accepted into the Academy (maximum 30 bankers). Participants must attend all sessions to successfully graduate from the program.

There are six sessions to the Academy: Nov. 10, Dec. 9, Jan. 21, Feb. 15, March 25, April 29. Graduation will take place in May 2022 at the OBA Annual Convention.

Click here for full details and the Academy application! Also, for more information, please contact Megan McGuire at (405) 424-5252 or megan@oba.com.

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2022 Oklahoma Views & Vistas Calendar available for earlybird order

The 2022 Oklahoma Views & Vista Calendar is now ready to be purchased – order yours by Aug. 1 to get the special low price of just 99 cents per calendar. Pricing after Aug. 31 is $1.09 per calendar. Final deadline to purchase is Sept. 15.

This is a great way to share your bank’s logo and information to your customers! Click here for more information and an order form.

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OBA endorses Promontory MortgagePath

The OBA has officially endorsed Promontory MortgagePath LLC, a leading provider of comprehensive digital mortgage and fulfillment solutions,  and its mortgage fulfillment services and proprietary point-of-sale technology Borrower Wallet®.

OBA recognized Promontory MortgagePath’s mortgage technology and end-to-end fulfillment services for their ability to help members reduce mortgage origination expenses while allowing members to retain a full mortgage product suite. By shifting fixed mortgage-operations costs to a variable cost model through Promontory MortgagePath, community banks can augment their staffing needs to match the ebb and flow of the mortgage market.

“OBA’s mission is to ensure Oklahoma’s robust banking community possesses the tools it needs to support its communities, and few support a community like increased homeownership,” OBA President and CEO Adrian Beverage said.

“Promontory MortgagePath’s mortgage technology and fulfillment services will deepen our community banks’ capacities to serve their communities while also providing stability and longevity through increased access to homeownership.”

Founded by former U.S. Comptroller of Currency Gene Ludwig, Promontory MortgagePath began with a commitment to empower community banks to participate profitably in mortgage lending. By offering mortgage technology and end-to-end fulfillment services, Promontory MortgagePath helps community banks build franchise value and expand relationships with their customers while establishing mortgage businesses that can withstand all market conditions. Although Promontory MortgagePath provides both the technology — including a POS and LOS — and back-office operational support, such as processors, underwriters and closers, community banks require to profitably grow their businesses, all loans are issued in the bank’s name, and the bank retains control over the product mix and pricing, ensuring mortgage operations remain in line with the bank’s overall risk appetite and growth plans.

“Our solution amplifies a core strength of community banks — outstanding customer service — by adding a digital platform and comprehensive fulfillment services,” said Paul Katz, managing director and head of bank relations at Promontory MortgagePath. “We’re excited to partner with OBA to bring a profitable, efficient, and compliant mortgage solution to its member banks.”

Promontory MortgagePath
Contact: Paul Katz
801 17th Street NW, Suite #430
Washington, D.C. 20006
Phone: (202) 257-2927
Email: paul.katz@mortgagepath.com
Website: www.mortgagepath.com

About Promontory MortgagePath LLC | NMLS ID 1532373
Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today’s rapidly changing residential mortgage market. Promontory MortgagePath’s founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for helping community lenders resolve their most pressing challenges. To learn more, click here to access an information flyer or visit www.mortgagepath.com.

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OBA education corner …

Did all your fingers survive the Fourth of July last weekend? If so, use them click and sign up for one of the our latest education offerings below!

NOTE: Effective March 16, 2020, and until further notice, TTS (our webinar provider) has extended the OnDemand access period for all ‘Live Plus Five (Days)’ registrants to 60 days (versus five business days). Also, they are waiving the $75 per location fee for additional locations.

  • The Active Shooter: Are You Prepared to Respond?, July 27, webinar — This session covers steps to prepare employees and managers to respond appropriately should an active shooter incident occur.
  • Opening LLC Accounts, July 27, webinar — This detailed webinar will help you make the best account opening and paperwork decisions for the LLC.
  • Do’s and Don’ts on Power of Attorney Documents, Aug. 3, webinar — This program will look at power of attorney “dos and don’ts” and how to prevent your institution from making costly mistakes in handling these high-risk documents.
  • Writing an Effective Credit Memorandum, Aug. 3, webinar — This course teaches skills required to write an effective credit memorandum. Learn to emphasize important factors and trends without stating the obvious.
  • Total TRID Four-Part Series, Aug. 4, 5, 6 and 10, webinars — This four-part program provides the information needed to master the TRID rules. It focuses on origination of closed-end loans secured by real property.
  • Consumer Real Estate Loans, webinar — This webinar will help you tame those scary real-estate-loan problems and will be particularly helpful to banks wanting to offer consumer real-estate loans for the first time in several years.
  • Advertising Compliance, webinar — Advertising presents a unique challenge when it comes to regulatory compliance. This webinar will walk you through all the requirements that could come into play.
  • Banking Cannabis Businesses: FinCEN Guidance, Due Diligence Policies and Procedures and Risk Management, webinar — Join us as we take the stigma out of banking cannabis-related businesses, and help you prepare your policies, procedures and best practices.
  • 2021 CECL UpdateAug. 11-TulsaAug. 12-Oklahoma City — The CECL seminar is designed to provide a look into the standard and the evolving impact for community banks. We will present the basics of the standard and discuss available model methodologies.
  • 2021 Compliance School, Aug. 23-27, Oklahoma City — Students will return to their banks equipped to deal with compliance regulations that impact lending practices and deposit functions as well as other related federal and state laws and regulations.

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