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Mortgage Partnership Finance Program Establishes New Advisory Council

NationalMortgageProfessional.com
May 29, 2012

The Mortgage Partnership Finance Program has announced the creation of the MPF Advisory Council, which will provide a national forum for experienced mortgage professionals to share their expertise, experiences, and views of real estate lending activity and general market issues affecting housing. The Advisory Council will help identify best-in-class solutions to the challenges and issues encountered by real estate lenders as they relate to the MPF Program and make recommendations to the program for the benefit of participating financial institutions (PFIs) and their customers and communities across the country. The MPF Advisory Council will meet quarterly and is composed of 18 PFIs who are members of the Federal Home Loan Banks that participate in the MPF Program. Terms will be for three years. The Advisory Council reflects the diversity of the institutions that participate in the MPF Program nationwide.  "This Advisory Council will be an excellent medium to gather feedback and ideas from community lenders who are experts in their field," said Eric Schambow, senior vice president and director of the MPF Program. "As the MPF Program celebrates its 15-year anniversary in 2012, we are looking forward to working with the Advisory Council to shape the MPF Program to meet the challenges of the changing housing market." The MPF Program makes it easier for members of the Federal Home Loan Bank System to access the secondary mortgage market and make fixed-rate mortgages available in their communities. Of the 643 PFIs who funded loans in the MPF Program in the first quarter of 2012, 607 were community banks, thrifts, and credit unions with less than $1.040 billion in total assets. Altogether, PFIs funded 17,215 loans for a total of $2.8 billion.
Published
May 29, 2012