Bank Launches New Tennessee Mortgage Division

Nashville-based Insurors Bank of Tennessee has announced the opening of a residential mortgage division, the Nashville Business Journal reports.

Insurors officials, in a release today, say the new division will allow the bank’s four Tennessee mortgage lenders to provide traditional services in a more convenient and efficient manner.

Services will include allowing borrowers to obtain a bridge and development loan, a home equity line of credit, land, lot and construction loans.

“Insurors’ mortgage division provides clients with a singular one-stop shopping opportunity to address their myriad banking needs,” says Bob Arnold, director of mortgage services.

“Our branchless banking model allows us to offer a large volume of residential mortgage lending services to customers in any location. The system ensures extremely quick turnaround and supports our commitment to high caliber, personal customer care.”

The decision to become a mortgage lender comes during a period of strategic growth for Insurors. The bank is expanding its current roster of managers, and in turn is ramping up sales and marketing resources in hopes of attracting a broader market.

Insurors plans to build a solid base use the mortgage lenders it has, then hire more providers of home mortgages in its other markets. Among markets mentioned are Greater Knoxville, Memphis, and Chattanooga.

Bank officials expect to expand business by establishing marketing agreements with other business partners, including independent insurance agents.