Mortgage Partnership Finance

"One of our objectives is to build long-term relationships with our customers, and MPF Xtra is a great opportunity for that.”

- Anita Owens, vice president/mortgage lending, FNBC

Overview

Established in 1997, the Mortgage Partnership Finance® (MPF®) program provides FHLB Dallas members with a competitive, alternative to access the secondary mortgage market. FHLB Dallas members that become Participating Financial Institutions (PFIs) gain opportunities to sell certain fixed-rate, conforming mortgage loans into the secondary market. PFIs that participate in the MPF program also have an option to retain servicing on their loans, and subsequently maintain control of their customer relationships, or they can sell servicing.

Member Benefits of MPF

Offers fixed-rate residential mortgage loans to borrowers
Gain access to the secondary market
Mandatory and best efforts pricing options available
Option to retain servicing or sell servicing for a premium
Transfer interest rate and prepayment risks typically associated with holding long-term, single-family mortgage loans to the investor
Single loan or bulk delivery
Next-day funding

Products

FHLB Dallas offers four products from the MPF Program:

Credit Enhancement (CE) Products:

MPF Original

MPF 125

MPF 35

Non-credit Enhancement Product:

MPF Xtra

Frequently Used Forms

Custody Shipping Labels Template

Delegation of Authority Change Form

Initial Certification Review Checklist for Custody

Member Sales Contact

If you are interested in an MPF product, please contact our Mortgage Partnership Finance Manager or your Sales Manager at lend@fhlb.com.

Mortgage Partnership Finance Manager
Lee Cammerer

Director Member Sales
Steve Otto

Member Sales Managers

Chris Hopkins
Kevin Kogucz
Scott Sparks
Jeff Sabin
Jeff Martin
Russ Guess

Features of the MPF Program

Term: Up to 30 years, fixed-rate, fully amortizing
Maximum LTV: 95 percent for CE products and 97 percent for non-CE product
FICO Score: Varies; minimum 620
Loan Limits: Agency conforming, conventional only
Occupancy: Owner-occupied (1-4 units) and second home
Commitment Delivery: 3, 10, 20, 30, and 45 business days
Pricing: Premium and discount pricing available
Remittance: Actual/Actual
Servicing: 25 bps
Master Commitment Size: $5 million minimum, best efforts
Delivery Commitments: Mandatory and best efforts
Servicing: Retained or released options

Resources

eMPF® Login

eMPF® User Manual

MPF Guides

MPF Program National Website

MPF Webinar Calendar

MPF Application Forms

FHLB Dallas members may apply to become a PFI at the Federal Home Loan Bank of Dallas by downloading, completing, and submitting the following forms to mpfdallas@fhlb.com.