DETROIT/December 16, 2003-- Comerica is promising customers $500 if their residential mortgage loan doesn’t close within 30 days of application. Comerica is believed to be the only bank offering this type of promise to customers.
When customers turn in their completed loan application to a Comerica mortgage representative, they will receive an "Our Promise to You Coupon." The coupon promises that Comerica will credit the customer $500 at closing if their mortgage loan does not close within 30 days.
The offer, which expires March 31, 2004, does not apply if a customer fails to qualify for a mortgage loan, delays the closing date, does not have all the required documentation necessary to close the loan within the 30-day period, or if the closing date is established by other parties involved in the transaction, such as the realtor or seller.
To apply for a mortgage, individuals can visit any Comerica branch or call Comerica’s Product Information Center at (800) 292-1300.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Detroit, strategically aligned into three major lines of business: the Business Bank, Small Business and Personal Financial Services, and Wealth and Institutional Management. Comerica’s more than 11,000 employees focus on relationships, and helping people and businesses be successful. Comerica Bank locations can be found in Michigan, California, Texas and Florida, with select businesses operating in several other states, Canada and Mexico. Munder Capital Management and Comerica Securities are investment services affiliates. Comerica reported total assets of $55 billion at September 30, 2003.
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Media Contacts:
Kathy Pitton
(313) 222-4916
Scott Talley
(313) 222-2917
