Main Street Home Mortgage Corporation Announces Private Label Agreement With American Enterprise Bank

Main Street Home Mortgage Corporation, a leading mortgage lender, today announced a private label agreement between the Company and American Enterprise Bank (AEB), a Illinois-based full service commercial bank and Fair Housing Lender.

Under the agreement, Main Street Home Mortgage will provide mortgage loan processing capabilities to American Enterprise Bank through its private label mortgage channel.

American Enterprise Bank will continue to maintain its own client relationships, brand identity, and sales effort, including rate selection, product offering and service standards. By outsourcing their back-end processing and underwriting of mortgage loans to Main Street, American Enterprise Bank will continue operating its mortgage business with reduced overhead while offering its valued clients lower interest rates and a broad selection of competitively priced mortgage products.

One of the reasons American Enterprise Bank selected Main Street Home Mortgage is due to the Company’s highly successful track record of providing these same service and solutions to other area banks.

Ed Miles, Chief Executive Officer of Main Street Home Mortgage stated, "We are excited about partnering with American Enterprise Bank and offering additional value to their clients. Main Street Home Mortgage’s private label program will provide American Enterprise Bank's bankers with state-of-the-art processing and support technology. These features allow American Enterprise Bank's private client teams to concentrate on client relationships and sales efforts as they maintain complete control throughout the mortgage loan process. In addition, as a result of our company's structure, we are able to offer American Enterprise Bank a flexible, tailored solution with a wide array of mortgage products to support the needs of its clients in the metropolitan marketplace."

John Morelli, Executive Vice President, added, "We expect this relationship to quickly provide tangible benefits to American Enterprise Bank based on the large volumes of loans that Main Street Home Mortgage originates. These benefits will be passed onto clients in the form of better pricing and the lowest mortgage rates possible."