| PFI Conversation: MPF Advisory Council – “There Is Much Value in the MPF Program, for Both Small and Large Institutions.” | |
The MPF Advisory Council was created in 2012 to provide an opportunity for Participating Financial Institutions (PFIs) to collaborate with peers in the  From Left to Right: Dale Owen, Leah Smejkal, Shane Bellavance, Teresa Gregoryindustry and provide the MPF Program with insight and a better understanding of the PFI’s needs. There are currently 15 financial institutions on the Council from across the districts, including: Boston, Chicago, Des Moines, New York, Pittsburgh, and Topeka. To become a member of the MPF Advisory Council, you must be elected by your Federal Home Loan Bank. MPF in Focus recently spoke to four PFIs whose terms were completed in 2014. We asked a few questions about their time on the MPF Advisory Council. Teresa Gregory, York Traditions Bank, FHLB Pittsburgh What were some of the highlights of your term on the Council? Teresa: Without a doubt, networking with peers throughout the country and learning from them how they best use the MPF Program in their organizations. How would you describe the value of the MPF Program for someone who is considering joining? Teresa: The MPF Program provides much value for both small and large institutions. The service they provide is the first value; the FHLB employees of both the Pittsburgh bank and the MPF Program are both knowledgeable and friendly. They are very patient with new PFIs. Additional values include the types of products offered, which includes loan the banks hold on their portfolio and loans passed through to Fannie Mae. Shane Bellavance, StonehamBank, FHLB Boston What were some of the highlights of your term on the council? Shane: Some of the highlights were certainly the people that I’ve met and the opportunity to learn from those people. I also gained a much better understanding of the Federal Home Loan Bank System. I also learned new ways to improve efficiencies in our processes. How do you use the MPF Program and why? Shane: We use the MPF Program in a combination of ways including MPF traditional and MPF Xtra to help manage risk, liquidity, and pricing, all with the ability to retain servicing and maintain customer relationships. Leah Smejkal, Dundee Bank, FHLB Topeka What were some of the highlights of your term on the council? Leah: It was very enjoyable getting to meet other mortgage lenders from around the country as well as the FHLB staff. It was helpful to hear how other banks manage their mortgage origination divisions. What are a few things you learned that other PFIs might like to know? Leah: It was helpful to understand that the FHLB has limitations under its charter for product offerings. For example, the reason the FHLB doesn’t offer ARMs or non-owner occupied through the MPF Program is simply a business decision. It was also interesting to learn about the various product offerings and that they vary widely among the MPF Banks. In addition, I gained an awareness that the MPF Program faces the same strategic direction decisions, regulatory hurdles, and ongoing technology developmental needs that we face in our businesses. Dale Owen, Ascentra Credit Union, FHLB Des Moines How would you describe the value of the MPF Program for someone who is considering joining? Dale: Serving on the MPF Advisory Council is an excellent opportunity to help shape the future of mortgage programs at the FHLB while enhancing your knowledge of existing programs. The networking opportunities will pay dividends throughout your career! What were some of the highlights of your term on the council? Dale: The extent to which financial institutions are having challenges with new regulations. I also gained a better understanding and perspective on how to deal with new regulations and the importance of strategic partnerships to ensure compliance. On behalf of the MPF Program, thank you to those who have served and those who continue to serve on the Council. Your efforts and contributions have made a great impact to the success of the Council. | |
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 New loan purchases available through the Federal Home Banks of Atlanta, Boston, Chicago, Dallas, Des Moines, New York, Pittsburgh, San Francisco, Seattle, and Topeka. |
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