Indianapolis FHLB Makes First Aggregated Pool MPP Payout
May 27, 2016
The Federal Home Loan Bank of Indianapolis awarded members this month its first aggregated pool payout in the Mortgage Purchase Program. The MPP was created to reward members for selling high-credit, quality performing loans. Forty-three Indiana and Michigan depository members received more than $761,000 in Lender Risk Account fund payouts. These payouts ranged from $65 up to as much as $112,000 depending on the dollar volume of originated mortgages sold into the pool. The MPP also offers stand-alone pools but the aggregate pools give smaller originators access to more competitive loan pricing that normally only would be available to larger-volume loan originators. Participants in the pool begin receiving LRA payouts...