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References in periodicals archive ?
Zelermyer explained that the FHLBB joins with other federal home loan banks to use the Mortgage Partnership Finance program to buy mortgages from member financial institutions that may be too small to sell them on the broader secondary market.
The Federal Home Loan Bank (FHLB) system's Mortgage Partnership Finance program began while Pollock was president and chief executive officer of the Chicago FHLB in 1997.
The Mortgage Partnership Finance Program represents a single mortgage program offering standardized products with most functions consolidated at the Chicago FHLB.
The Mortgage Partnership Finance Program. The Mortgage Partnership Finance (MPF) Program allows members to sell conventional or government-guaranteed mortgages to their regional FHLB.
On January 9, 1997, the FI{LB of Chicago received approval from the Federal Housing Finance Board to operate a pilot program for a new initiative, the Mortgage Partnership Finance Program, which allowed the Chicago bank to engage in a new activity, directly purchasing mortgages from FHLB members.
One such alternative to funding mortgage purchases on the balance sheet is the FHLB of Chicago's recently approved Shared Funding Program, which allows Mortgage Partnership Finance Program loans to be securitized.
In 1997, the Federal Home Loan Bank of Chicago initiated the Mortgage Partnership Finance Program, in which nine of the 12 FHLBs participate.