National Cooperative Bank Hires Two Industry Veterans to Launch FHA Mortgage Purchase Conduit

Arlington, Va. – (October 3, 2019) – National Cooperative Bank (NCB), a leading financial institution serving cooperatives, their members and socially responsible organizations nationwide, is pleased to welcome Tim Bolger and Bob Bodell to lead NCB’s new FHA mortgage purchase conduit. Mr. Bolger and Mr. Bodell bring decades of mortgage and FHA experience to launch this new initiative.

NCB’s FHA mortgage purchase conduit will work with mortgage bankers to purchase one or more delinquent FHA mortgages, servicing released. NCB will service the loans with the goal of keeping homeowners in their home and out of foreclosure.

NCB’s program provides an outlet for mortgage bankers who are seeking to transfer delinquent FHA loans out of their portfolio or warehouse line in order to reduce delinquency servicing costs and claims processing.

Mr. Bolger and Mr. Bodell have had successful careers in mortgage banking and capital markets. They will provide NCB with industry expertise on launching and leading NCB’s FHA mortgage purchase conduit.

For more information about NCB’s FHA mortgage purchase conduit, please contact Bob Bodell at (703) 302-1950 or rbodell@ncb.coop or Tim Bolger at (703) 302-1958 or tbolger@ncb.coop.