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FHLB-Chicago and Ginnie Mae Offer New Mortgage Lending Option

September 9, 2013

The FHLB-Chicago recently announced a plan for the Bank to issue securities guaranteed by Ginnie Mae and backed by mortgages originated by member financial institutions. These MPF Government Mortgage-Backed Securities (MBS) will provide smaller institutions in particular a new option when creating mortgage products for their home buying customers. Lenders will be able to choose to retain or release servicing and will have a reliable channel for selling their loans without the low-volume hurdles originators face in today’s competitive market. READ RELEASE