Colorado bank forms alliance for mortgages

Northwestern Financial Review, Mar 15-Mar 31, 2003

The RBC Mortgage Company, Chicago, has formed a marketing alliance with First United Bank, Englewood, Colo.

As part of the alliance, RBC Mortgage will provide mortgages and home equity loans to customers of the $120 million First United Bank. RBC Mortgage has appointed a team of mortgage consultants to support First United Bank branches in the Denver area. The mortgage consultants will be able to run credit reports, pre-qualify customers on site at the branches and submit loans to automated underwriting. The loans will be underwritten and closed through RBC Mortgage's regional operations center in Englewood, Colo.

"This alliance capitalizes on our greatest asset at RBC Mortgage: the ability to offer sophisticated mortgage solutions at industry-leading pricing through fast, personalized service," said George Bain, manager of RBC Mortgage's Parker, Colo., branch and director of the First United Bank mortgage team. "We believe our services will complement First United Bank's current product offerings and will help the bank's customers buy or refinance the homes of their dreams."

"We are pleased to form this partnership with RBC Mortgage because they are a mortgage powerhouse with a strong commitment to the communities of Colorado," said John Gianakos, regional vice president of First United Bank.

"The new alliance will enhance our ability to give our customers solutions that not only meet their financial goals, but also make a difference in their lives," said Stephen P. Baltz, founder, chairman and president of First United Bank.

RBC Mortgage s a subsidiary of the Royal Bank of Canada, that country's largest financial institution.