FHLB Chicago Unveils New Conduit To Secondary Mortgage Market

Published November 10, 2008, 7:15 p.m. EST

Updated August 27, 2020, 12:58 a.m. EDT

1 Min Read

CHICAGO – The Federal Home Loan Bank of Chicago last week introduced a new program to buy loans from its bank and credit union members.

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The program, called Mortgage Partnership Finance Xtra, will buy 30- and 15-year fixed-rate mortgages from the FHLB’s 890 members and sell them to Fannie Mae. The program is similar to the Bank’s MPF, expect under that program the Chicago Bank held the mortgages.

The program is currently being offered through the Chicago Bank, but other FHLBs may offer it soon to their member banks and credit unions.

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