Become a licensed mortgage broker

Assurance Partners Bank announced that it has partnered with OnePipeline Inc., a provider of third-party mortgage compliance technology, to provide mortgage services to consumers nationwide through independent insurance agents.

Under the alliance, Assurance Partners Bank will serve as a preferred provider of mortgage products to independent insurance agents across the nation. Agents who will contract as part-time employees directly with OnePipeline, will have access to the firm's automated compliance system, which features the automate compliance engine. The technology applies a rules-based compliance workflow that ensure Assurance Partners Bank agents legally satisfy all federal and state regulations governing residential real estate mortgage lending.

OnePipeline eliminates the need for an agent to obtain a mortgage broker license or hire a licensed broker. In addition, the upfront software, licensing, error and omissions insurance, and bond costs have been eliminated. Participating agents are actual employees of OnePipeline in the course of their first mortgage loan origination duties and as such are covered under the company's error and omissions and worker's compensation in the course of their work.

"Assurance Partners Bank has partnered with OnePipeline to enable independent insurance agents to originate mortgage loans and earn compensation for the origination tasks performed without going through the hurdles of becoming a licensed mortgage broker," said Scott Poore, vice president of marketing and sales for the Bank.

"When agents began expressing concerns over the costs and time commitments involved in becoming a licensed mortgage broker, we knew we needed to offer those agents an alternative," added Dave Fronek, the Bank's president. "This is a cooperative effort in the best tradition of the mutual insurance industry. Ultimately, we all win. The agents receive compensation for doing what they do best -- serving their policyholders -- and consumers now have the ability to work with their insurance advisors, someone whom they know and trust to obtain mortgage financing."