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The Next Phase of the MPF Program Has Begun
The FHLB Chicago has developed an MPF product that provides members with access to the secondary mortgage market without adding to the interest rate risk of a mortgage portfolio held on our balance sheet. This product is currently available to Participating Financial Institutions (PFIs) of the Federal Home Loan Banks of Chicago, Des Moines, Boston, and Pittsburgh.
The MPF Xtra®Product Provides Extra Funding Capacity
This product, MPF Xtra, is similar to MPF portfolio products in several important respects:
• PFIs continue to sell conventional, conforming loans to their Federal Home Loan Bank
• Loan delivery takes place through the secure eMPF website
• PFIs retain their customer relationships while enhancing their income potential through access to the
secondary mortgage market
MPF Xtra Product Description »
The major difference with this product is that the loans sold to a participating Federal Home Loan Bank will be concurrently sold to a third party investor.
In addition to the MPF Xtra product, members of the FHLB Chicago can also benefit from selling HUD 184 and RHS 502 loans, which are available through the MPF Government product.
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