Page 53 - The GSE Report March-April 2018

FEDERAL HOME LOAN BANK MJARN.U-ARPYR.20210818
change the risk profile of the FHLB System,” said Ron Haynie, SVP of mortgage finance policy at the Independent Community Bankers of America. (American Banker, Brian Collins, 04/21/18)
Ginnie Mae-FHLB-Chicago venture crossed the $1 billion milestone
In 2015, the FHLB-Chicago and Ginnie Mae created the Mortgage Partnership Finance (MPF) Program, in which the MPR Program pools and securitizes FHA, VA and Rural Housing Service- guaranteed by Ginnie Mae. In March, the MPF Program surpassed $1 billion in mortgage-backed securities issued.
The MPF Program has been expanded to six of the 11 FHLBs that can now offer the MPF Government MBS product to their members. “The interest in the MPF Government MBS product continues to grow helping to make more affordable lending available throughout the country,” says John Stocchetti, EVP of the MPF Program.
“This partnership with the Federal Home Loan Bank of Chicago is just the beginning of the productive partnerships that Ginnie Mae’s charter allows and that we intend to leverage in the coming years,” said Michael Bright, Ginnie Mae EVP and Chief Operating Officer. “These types of programs help to level the playing field for small and local financial institutions, help Ginnie Mae fulfill its core mission, and creates important opportunities for innovation in our mortgage system.” (Press Release, Mortgage Partnership Finance, 03/14/18)
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