Conventional Products
Under the MPF® Original, MPF 125, MPF 35, and MPF Xtra® products, participating Financial Institutions can originate and sell conventional fixed-rate residential mortgage loans, with the option to receive Credit Enhancement Fee income for sharing in the credit risk.
| Features | MPF Original | MPF 125 | MPF 35 | MPF Xtra® | |
|---|---|---|---|---|---|
| Execution | Credit Enhancement Obligation: contingent liability of PFI | • | • | • | |
| Credit Enhancement Fee Income: 6–12 basis points paid to PFI | • | • | • | ||
| Loan level/investor price adjustments | • | ||||
| Underwriting | Loan terms: fully amortizing, up to 30-year fixed rate | • | • | • | • |
| Occupancy: owner-occupied/second home | • | • | • | • | |
| Investment property | • | ||||
| Mortgage insurance coverage required | • | • | • | • | |
| Fannie Mae Desktop Underwriter (DU) access included | • | ||||
| Maximum LTV (%) | 95 | 95 | 95 | 97 | |
| Servicing | Servicing options: released or retained | • | • | • | • |
| Remittance options: A/A, S/R, or S/S | • | • | • | ||
| Remittance options: A/A Only | • | ||||
| Servicing fee income (bps) | 25 | 25 | 25 | 25 | |
| Delivery | Master commitment: required; $5 million minimum Delivery commitments: mandatory | • | • | • | • |
| Master commitment: required; $5 million minimum Delivery commitments: best efforts | • | ||||
| Same-day loan delivery and funding | • | • | • | Next day* | |
| Structure | Credit enhanced: FHLBank and PFI share credit risk | • | • | • | |
| First Loss Account (bps) | 4/annum | 100 | 35 | ||
Product terms subject to change; contact your Sales Director for the most current product information.
PFI = Participating Financial Institution
A/A = Actual/Actual
S/R = A/A Single Remittance
S/S = Scheduled/Scheduled
*Generally next day for mandatory delivery; two business days for best efforts
Related Resources
Learn more about MPF and how we partner with participating members to enhance profitability and provide support for all secondary mortgage market needs.
MPF Program Guide
The MPF Program Guide contains a general overview of the program.
View More Guides
Explore more MPF guides for specific product types
Webinars
Want to learn more? Attend an MPF webinar.
Products Offered
Explore the MPF® Program's conventional/conforming loan products to find flexible solutions that support homeownership.
Related Products
Explore our other lending products to find the funding you need.
Government Loans
MPF Government loan products provide a liquidity option for your fixed-rate mortgage loans insured or guaranteed by government agencies.Fixed Rate Advances
A fixed interest rate can help financial institutions meet liquidity needs, manage the balance sheet, and mitigate interest-rate risk.Hybrid Rate Advances
Hybrid Rate Advances allow members to convert from floating to fixed rates, and to embed options into advances with highly customizable terms, protecting against rising or falling rates.Floating Rate Advances
Floating Rate Advances provide funding with rate resets at periodic intervals, usually tied to Secured Overnight Financing Rate, effective federal funds, Federal Home Loan Bank discount note, or prime rates.