Embrace Home Loans, a direct mortgage lender in Newport, R.I., has partnered with Rockland Trust, to process, underwrite and close loans for the Rockland, Mass.-based bank.
Rockland, a $6.4 billion-asset bank, said in a press release that it has interest in expanding its home loan finance business as demand increases due to low interest rates and general recovery in the price of housing. The bank will also begin to offer U.S. Department of Agriculture and Department of Veterans Affairs loans in Massachusetts and Rhode Island.
"By partnering with Embrace Home Loans, we're able to expand our mortgage offering and provide a better experience to borrowers — critical as the demand for home financing continues to grow and we shift to a purchase-driven market," Rockland's senior vice president and director of residential lending Armando Carvalho said in a release.
