NEWS RELEASE
Jan. 5, 2009
ABA Media Contact: Jim Eberle
(202) 663-5477
E-mail: jeberle@aba.com

ABA RENEWS RELATIONSHIP WITH WELLS FARGO FUNDING

WASHINGTON – Community Bank Mortgage LLC, a subsidiary of the American Bankers Association, announced today that it has renewed its relationship with Wells Fargo Funding Inc., a subsidiary of Wells Fargo Bank, to act as a secondary market investor for loans originated by community bank owners.

Community Bank Mortgage LLC, a joint venture launched in 2007 with ABA member banks, acts as a negotiating agent with investors to secure preferential terms for its owners. The LLC leverages the aggregate quality and volume of community banks' mortgage business.

The company is currently owned jointly by the ABA and 40 community banks across the country that have a significant presence and commitment to the mortgage markets in their communities.

"Now, more than ever, it is essential that community banks receive favorable business terms since they are the primary source of mortgage funds on Main Street," said Deborah Whiteside, president and COO of Community Bank Mortgage LLC.

"Extending our agreement with Community Bank Mortgage LLC demonstrates Wells Fargo Funding's commitment to supporting community banks that collectively take an ownership stake in building stronger communities," said Brian Handal, division vice president of Wells Fargo Funding. "Working together, and leveraging the strength and stability of Wells Fargo, we are confident in the success this continued relationship provides to our companies."

Community Bank Mortgage LLC Chairman Michael Young said, "This is a unique way for community bankers to leverage their joint ownership of the LLC into the most preferential terms possible in the secondary mortgage market." Young is also chairman, Cenlar FSB, Ewing, N.J.

For more information about how to become an owner of Community Bank Mortgage LLC, contact Deborah Whiteside at dwhiteside@aba.com or (202) 663-5580.


About Community Bank Mortgage LLC
            Community Bank Mortgage LLC is a subsidiary of the American Bankers Association. The ABA American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation's banking industry and strengthen America's economy and communities. Its members -- the majority of which are banks with less that $125 million in assets -- represent over 95 percent of the industry's $13.6 trillion in assets and employ over 2 million men and women.


About Wells Fargo Funding
            The correspondent business line of Wells Fargo Home Mortgage operates through Wells Fargo Funding, Inc., which is a subsidiary of Wells Fargo Bank, N.A. Wells Fargo Funding is one of the nation's largest correspondent lenders. It has a client of more than 1,000 banks, thrifts and mortgage lenders in all 50 states.

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