Three of the Federal Home Loan banks are about to kick off a second alternative secondary-market program.

The Home Loan banks of Indianapolis, Cincinnati, and Seattle have jointly developed their own loan-purchasing program, which they plan to test in the third quarter. The program will have a regional focus and a unique risk-sharing plan, which will distinguish it from the well-known Mortgage Partnership Finance program, a three-year-old nationwide program run by the Chicago bank.

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