MPF® Program Announcement | New MPF Government MBS Product
June 27, 2016
We now have a new option for selling your government mortgage loans into the Mortgage Partnership Finance® (MPF) Program. Through a partnership between FHLBank Chicago and the Government National Mortgage Association (Ginnie Mae), we’re pleased to offer the MPF Government Mortgage-Backed Securities (MBS) product. Purchased FHA, VA and RHS Section 502 mortgage loans in this program will be aggregated and pooled into securities guaranteed by Ginnie Mae.
Why are we offering this product?
As our member, your success is our success. The MPF Government MBS product is geared to make you successful with competitive pricing for both servicing retained and released options. When evaluating the product, we asked several of our government mortgage sellers to review the pricing with the feedback being very good relative to other alternatives. The product essentially provides securitization pricing through a cash window delivery. This approach works well for many of our members by allowing same day delivery and funding of your mortgage loans at improved prices.
What do you need to do to get started?
The first step is to compare the available pricing under the MPF Government MBS product to your other investor alternatives. To help you with your comparison, you can subscribe to daily pricing updates.Click here to subscribe to the service. More details about the product are available here, and our Member Products and Services Guide has been updated to reflect this new offering. Please contact us at 866.571.8171 to discuss the MPF Government MBS product.
“Mortgage Partnership Finance’ and “MPF” are registered trademarks of the Federal Home Loan Bank of Chicago.