TEMPE, Ariz. - (10/13/04) -- Tempe Schools CU said it has beenapproved by the Federal Home Loan Bank of San Francisco to join theMortgage Partnership Finance secondary mortgage market program. The$150 million credit union is the fourth credit union to join theSan Francisco bank's version of the secondary market program andfirst in Arizona. Under the San Francisco bank's program financialinstitutions share in the credit risk of the loans and arecompensated for taking on that risk through a credit enhancementfee.
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