FHLBank of SF Rejoins Mortgage Partnership Finance Program
October 11, 2013
After an eight-year hiatus, the Federal Home Loan Bank of San Francisco announced last week it would renew its participation in the Mortgage Partnership Finance program, which is managed by the FHLBank of Chicago. Starting in 2014, the San Francisco Bank will purchase conventional, conforming fixed-rate mortgages and FHA/VA products, as well as purchase fixed-rate loans from its members for sale to Fannie Mae through the MPF Xtra program.
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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