Analytics Corner: Providing Mortgage Liquidity in a Shifting Market
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| Patrick Sullivan Vice President, MPF Mortgage Analytics MPF Program | In this issue, we introduce “Analytics Corner,” a new column by Patrick Sullivan and other members of the MPF Program’s Mortgage Analytics team. Each column will provide insights into metrics and trends related to the broader origination market and industry landscape or the MPF Program.
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PFI Conversation: “MPF Direct Has Added the Most Value for Us”
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MPF Direct Select 90 QM Option Combines LTV Flexibility with Attractive Pricing Today’s savvy borrowers may be more interested in investing or keeping their assets liquid than in maximizing their down payment. That’s why, even in the jumbo loan market, there are always borrowers looking for the flexibility to put as little down as possible. To help our Participating Financial Institutions (PFIs) serve these customers, the MPF Program has enhanced the MPF Direct product with a new eligibility option: Select 90 QM.
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Legal Notes
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| Scott Bailey Senior Vice President and Senior Mortgage Executive, Southern First Bank | Southern First, a member and Participating Financial Institution of the Federal Home Loan Bank of Atlanta, was a small community bank in Greenville, South Carolina, until about 8 years ago when it opened a new branch in Columbia. Since then it has spread to the Charleston and Raleigh markets, reaching $1.3 billion in assets and growing to 186 employees. Scott Bailey, Senior Vice President and Senior Mortgage Executive for Southern First, points out that none of this growth has come through mergers or acquisitions. “We have a philosophy of growing one client at a time, and that’s been very successful for us,” he says. MPF in Focus recently spoke with Bailey about how the MPF Program fits into Southern First’s business model, and about his service on the MPF Advisory Council.
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Spring Conference Recap: ABA and ICBA
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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.
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Promoting Local Lenders
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The MPF Program recently attended and exhibited at the American Bankers Association (ABA) National Conference for Community Bankers and the Independent Community Bankers of America (ICBA) Community Banking LIVE convention. For those who missed these events, we present some highlights.
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Upcoming Webinars
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FHLBanks Sponsor Television Segment; Provides Nationwide Mortgage Locator Link
The benefits of choosing local lenders for mortgage needs were highlighted recently on “Designing Spaces,” a home design and remodeling show on the Lifetime TV channel. “Designing Spaces” invited the MPF Program to participate in a segment highlighting the benefits of relying on local lenders for mortgage and refinancing needs. Production of the segment quickly grew into a collaborative effort with Tropical Financial Credit Union (TFCU), a member of the Federal Home Loan Bank of Atlanta and a Participating Financial Institution.
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Follow Us on LinkedIn
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To register for one of the MPF Program’s complimentary webinars, click on a date below. You can also find a calendar of upcoming webinars in the Education section of the MPF Program website at www.fhlbmpf.com.
Tuesday, April 25; Thursday, June 8; Thursday, July 20
Investor Reporting for the MPF Xtra® Product
Wednesday, May 3
Radian Presents: Detecting and Avoiding Fraud in Loan Files
Thursday, May 18
Investor Reporting for MPF Traditional Products
On-Demand
MPF Xtra: 2017 Investor Reporting Changes
On-Demand
MPF Traditional Products Eligibility and Underwriting (NEW)
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2017 National Conferences
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The MPF Program has a new LinkedIn page—Mortgage Partnership Finance Program—where we will post news and announcements. Click on the LinkedIn icon, then on the yellow “Follow” button in the top-right corner of the page.
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2017 National Conferences
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Webinars
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View all of the upcoming webinars on our calendar.
› View Calendar |
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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 instability of the credit and debt markets, economic conditions (including effects on, among other things, the housing market), changes in mortgage interest rates and prepayment speeds on mortgage assets, our ability to implement new or enhanced products or programs, and 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.
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