MPF Original Product



The MPF Original product allows a member to share the credit risk associated with home mortgage finance with its Federal Home Loan Bank. MPF Original provides Participating Financial Institutions with the ability to originate, sell, and service fixed-rate, residential mortgage loans, and receive a Credit Enhancement Fee based on the performance of the loans. The FHLBank manages the liquidity, interest rate, and prepayment risks of the loans while the PFI manages the credit risk of the loans. The credit risk sharing feature of MPF Original ​allocates future loan losses, if any, between the PFI and its FHLBank after borrower equity and private mortgage insurance are depleted.



  • Remittance options: Actual/Actual, Actual/Actual Single Remittance, Scheduled/Scheduled
  • Credit Enhancement Fees: For taking on the Credit Enhancement Obligation, the PFI will receive a fixed fee of up to 10 basis points annualized on the outstanding Master Commitment balances, paid monthly



  • Competitive execution
  • Credit Enhancement Fee income, paid monthly
  • Economic reward for quality loans
  • Same-day delivery and funding
  • Servicing released options available
  • No secondary market fees