Amalgamated Bank, a wholly‑owned subsidiary of Amalgamated Financial Corp., has entered into a partnership with national independent lender Embrace Home Loans to provide residential mortgage financing to its customers.
Under the agreement, Amalgamated Bank will refer home‑buyer applicants to Embrace, which will originate and service the loans through a platform built specifically for the bank’s clientele. The partnership gives customers access to Embrace’s proprietary Approved to Close program and Property Value Certificate, tools that can shorten the closing timeline and reduce underwriting friction.
The deal lets Amalgamated Bank broaden its mortgage portfolio without the capital outlay required to build an in‑house origination system. By outsourcing the technical and regulatory work to Embrace, the bank can keep its focus on commercial and trust services while still meeting the growing demand for home ownership among its mission‑aligned customer base, which includes labor unions and progressive non‑profits.
Industry analysts note that the partnership follows a broader trend of banks partnering with specialized non‑bank lenders to expand mortgage offerings. The arrangement is expected to generate additional fee income for Amalgamated Bank and deepen relationships with existing customers, positioning the bank for long‑term growth.
Amalgamated Financial Corp. reported strong Q4 2025 results, with core earnings per share of $0.99 versus analyst estimates of $0.91 and revenue of $87.91 million, exceeding expectations. The company also raised its 2026 guidance for net interest income to $327 million–$331 million and core pre‑tax earnings to $180 million–$183 million, reflecting confidence in continued growth.
"Our focus on core commercial and trust services remains unchanged, but this partnership allows us to serve our customers’ home‑ownership needs without diverting resources from our core strengths," said Priscilla Sims Brown, President and CEO of Amalgamated Financial Corp. "We are confident that the collaboration will enhance customer experience and drive fee income in the coming years."
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