PROVIDENCE – Santander Bank N.A. is teaming up with Rocket Mortgage under a recently announced partnership, according to a news release.
Under the deal, the bank has named Rocket Mortgage its exclusive preferred mortgage provider for Santander customers, with “exclusive discounts and dedicated resources” from the mortgage lender for bank customers.
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The partnership comes after the Spanish banking giant decided to end its U.S. home loan business earlier this year. As part of the decision to stop issuing new residential mortgages and home equity loans, the bank announced a series of layoffs that included 200 people in its East Providence office, PBN previously reported.
The new partnership with Rocket Mortgage will give Santander clients access to mortgage bankers by phone or online, as well as discounts on loan and closing costs, with “enhanced” discounts for Santander Private Clients and employees who close loans within the program, the release stated,
Santander has nearly 2 million clients concentrated across New England and the mid-Atlantic, including 26 Rhode Island branches and the fourth-largest in-state market share as of June 30, 2021, according to the Federal Deposit Insurance Corp.
For more information, visit santanderbank.com/mortgages.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
