The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that IndyMac Bank has executed a servicing agreement with PNC Consumer Services (www.pncconsumerservices.com), PNC's loan processing division, to provide loan origination and fulfillment services for IndyMac's HELOC Division.
"We are pleased to be providing services for IndyMac's home loan program," said James DeFoggia, senior vice president, PNC Consumer Services. "IndyMac customers will find applying for home loans fast and easy, with 24-hour, seven-day-a-week service whether they complete and submit their applications online or work directly with one of our financial services consultants at our nationally recognized call center.
"PNC Consumer Services combines its significant experience managing the loan programs of leading home equity loan providers with a first-rate operational and technological infrastructure to support all aspects of a quality loan program," said DeFoggia. "We are bringing these strengths to our strategic relationship with IndyMac as they offer their customers competitive products and exceptional service."
Through this arrangement, IndyMac will market their home equity line of credit and installment loan products to customers who are invited to apply at a lending center hosted by PNC Consumer Services on IndyMac's web site or through PNC Consumer Services call center. PNC Consumer Services loan center staff process the applications, underwrite and decision the loans, create the loan documentation packages and coordinate the loan closing with applicants.
In addition to the IndyMac portfolio, PNC Consumer Services has loan origination and servicing relationships with several national financial services companies, including American Express, Prudential Financial, E*Trade Bank and Discover Financial Services.
PNC Consumer Services was established by PNC Bank in 1999 to leverage the company's technology and operations infrastructure to originate, fulfill and service loans for financial services companies.
PNC Bank, N.A. and PNC Bank, Delaware, are members of The PNC Financial Services Group, Inc. PNC, headquartered in Pittsburgh, is one of the nation's largest diversified financial services organizations, providing regional community banking; wholesale banking, including corporate banking, real estate finance and asset-based lending; wealth management; asset management; and global fund services.
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SOURCE: The PNC Financial Services Group, Inc.
CONTACT: Maureen Brown, PNC, +1-412-768-2752, maureen.brown@pncbank.com
Web site: http://www.pncconsumerservices.com/
Web site: http://www.pnc.com/
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