 | | A Snapshot for Participating Financial Institutions | Winter 2016 | Mortgage Partnership Finance® (MPF®) Program |
| Demonstrating Partnership | | Demonstrating Partnership | Partnership is truly a meaningful word in the Mortgage Partnership Finance program name. At the fall meeting of the MPF Advisory Council (a group comprised of PFIs who are members of FHLBanks throughout the system), several guest speakers representing MPF investors expressed how the MPF Program partnership brings value to their respective organizations.
|
|
| Matt Feldman: “We are Looking for Real-World Feedback” |  | “The Federal Home Loan Banks, although owned and operated independently, are cooperative in nature and can accomplish our mission collaboratively and collectively,” said Matt Feldman, President and CEO of the Federal Home Loan Bank of Chicago. “The MPF Program may be the best example of how we work together.”
Read More |
|
| Partnership: “Puts us in a Position to Innovate” |  | Kristy Fercho, Senior Vice President and Head of Customer Management for Fannie Mae’s West Region, describes partnership with the MPF Program as “a unique one that has enabled us to do some really creative things for PFIs.” Fercho stressed to the MPF Advisory Council that the open sharing of ideas is truly what cultivates this ongoing relationship.
Read More |
|
| Secondary Market for Jumbo Loans through a Partnership with Redwood Trust |  | “Now is a great time to originate and invest in good loans to good borrowers,” said Garnet Kanouse at the MPF Advisory Council meeting last fall. “The loans we have been purchasing through MPF Direct are high quality and we expect them to perform well.”
Read More |
|
| The Ginnie Mae-MPF Partnership | Ginnie Mae President Ted Tozer spoke with the Mortgage Partnership Finance (MPF) Advisory Council last fall. There, he shared his views on the future of mortgage markets and Ginnie Mae. He also provided an update on the Ginnie Mae-MPF partnership.
Read More |
|
|
| Flexibility: “A Powerful Thing to Have When You Need It” |  | MPF InFocus had the opportunity to speak with Doyle Province, Vice President of Mortgage Lending at the WEOKIE Credit Union in Oklahoma City. WEOKIE Credit Union serves approximately 54,000 members and is a $1 billion institution. It was formed in 1969 by a group of Western Electric employees in Oklahoma City. In 2001, a community charter was formed which included eight counties in central Oklahoma. It serves members in both rural and urban areas. Oklahoma’s economy has traditionally been agricultural, oil, and gas. Doyle shares that the economy in WEOKIE’s market area has grown more diverse in recent years.
Read More |
|
Product News
Servicing-Release Option Added to MPF Government MBS | PFIs may now chose a servicing-released option MPF Government MBS product in addition to the servicing retained execution. Nationstar, the fourth largest residential mortgage servicer, was select by the MPF Program and Ginnie Mae based on its previous track record. This option will allow greater flexibility for local community lenders that want to originate and sell their government loans into the secondary market and receive a securities price for a cash execution.
Read the announcement about this offering |
|
| Open a Best Efforts Delivery Commitment Online | PFIs now have the capability to open a Best Efforts Delivery Commitment (DC) under the MPF Xtraâ product through the eMPF® website. The new functionality can be found under the Transactions tab in the Delivery Commitment section of the website.
Read More |
|
| MPF Advisory Council Members Conclude Terms, Reflect on the Experience |  | Seven MPF Advisory Council members recently completed their terms and were recognized for the time and expertise they’ve contributed to the MPF Program. The MPF Advisory Council is a group of PFIs from throughout the FHLBank System, who share their experience in real estate lending activity to help identify solutions to issues they encounter that relate to the MPF Program.
Read More |
|
| Ask the MPF Service Center | The MPF Service Center is a resource ready to respond to questions posed by PFIs. This team typically addresses questions about origination, underwriting, and loan funding. With their expertise and network, they get PFIs to the right place to provide an answer to nearly any question. Below are two examples of the types of questions they address.
Read More |
|
| Legal Notes | The MPF Program continually reviews mortgage related industry and legal developments. Below are links to recent developments for your reference. Please address any questions you have about these topics to your compliance team or legal counsel.
Read More |
|
| 2016 National Conferences: Look for us at these National Conferences around the Country | |
|
|
| Events |
View all of the upcoming events and webinars on our calendar.
› View Calendar | |
| | | |
FHLBC
200 East Randolph Drive
Chicago, IL 60601
Phone: (877) 463-6673
www.fhlbmpf.com |
New loan purchases available through the Federal Home Loan Banks of
Atlanta, Boston, Chicago, Dallas, Des Moines, New York, Pittsburgh, San Francisco, and Topeka. |
| Copyright 2016, Mortgage Partnership Finance Program. “Mortgage Partnership Finance,” “MPF,” “MPF Xtra,” and “eMPF” are registered trademarks of the Federal Home Loan Bank of Chicago. The “MPF Mortgage Partnership Finance” logo is a trademark of the Federal Home Loan Bank of Chicago. |
|  |
This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “anticipates,” “believes,” “expects,” “could,” “plans,” “estimates,” “may,” “should,” “will,” or their negatives or other variations on these terms. We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com. We assume no obligation to update any forward-looking statements made in this newsletter. | We hope you enjoyed this email communication; however, if you would like to unsubscribe, please .
|
|
