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Key Mortgage Services Inc. on Tuesday announced the launch of Key Mortgage Affinity, a partnership program designed to help credit unions and community banks expand their mortgage offerings without losing their own branding.
The Chicago-based lender, which is also part of the Baird & Warner family of companies, said that Affinity provides back-end support — including processing, underwriting, technology and investor access — along with staff training, co-branded marketing and borrower education.
In addition to mortgages, Affinity offers relocation services and access to the secondary loan market, allowing smaller financial institutions to compete with larger banks.
Key Mortgage said the platform is designed to strengthen ties with community lenders by expanding their loan portfolios and helping them meet demand for home financing, as well as enabling them to add mortgage services without expanding staff or technology.
“Our goal with Key Mortgage Affinity is to be a true partner, helping institutions serve their customers more deeply without burdening them with additional infrastructure,” said Ralph Melbourne, president of Key Mortgage. “We handle underwriting, closing, and offer a wide product range, all while the partner retains the client relationships.”
The initiative offers three partnership options: Aligned, Integrated and Broker. In exclusive comments given to HousingWire, Melbourne explained that the three models give institutions flexibility in how closely they want Key Mortgage involved in their operations.
The Aligned Model is what Melbourne calls the “turnkey” option.
“In this setup, Key Mortgage becomes the financial institution’s mortgage team. After a warm handoff, we manage everything from origination to closing,” he said.
The Integrated Model is the middle ground option. “The financial institution plays a bigger role at the front end, often taking applications or handling the first touch with the member, while Key Mortgage powers the back end, from processing to underwriting,” Melbourne explained.
The Broker Model lets institutions use Key Mortgage’s investor network and products without managing multiple relationships, giving them flexibility to serve borrowers with needs such as jumbo loans or down payment assistance.
“Each partnership includes staff training, co-branded marketing, and reciprocal benefits like loan trading, relocation support for membership and the financial institutions’ Select Employee Groups,” Melbourne said.
Melbourne confirmed that Key Mortgage Affinity is already licensed in 18 states and has plans to scale as members’ needs expand.
“While our roots are firmly planted in the Chicagoland area, being backed by Baird & Warner Real Estate gives us both the resources and the recognition to operate on a national stage,” he added.
