PONTE VEDRA BEACH, Fla. and CHICAGO, Aug. 2, 2017 /PRNewswire/ -- Capital Markets Cooperative, (CMC), a Computershare company ("Computershare Limited" ASX:CPU), announced that its servicing acquisition division, CMC Funding will provide servicing-released execution for the Mortgage Partnership Finance® (MPF®) traditional products. The MPF Program allows participating members of the Federal Home Loan Bank System to sell fixed-rate loans into the secondary mortgage market.
This partnership offers MPF Program participating financial institutions, or PFIs, an expanded landscape for selling the servicing on their MPF traditional loans. CMC Funding offers market competitive pricing that can be passed down to borrowers. Another advantage is the capability to upload servicing files using the MPF Program's online transactional website, eMPF®.
CMC Funding strives to make the delivery process smooth by customizing delivery processes for its mortgage lenders. "Our goal is for MPF Program participants who sell servicing to CMC Funding to realize they've gained a trusted partner for their mortgage business," said Tom Millon, President and CEO at CMC Funding.
"We are excited about our partnership with CMC Funding as it fuels our ongoing mission to support community lenders nationwide," said John Stocchetti, Executive Vice President & Group Head, MPF Program at the Federal Home Loan Bank of Chicago. "The FHLBanks are here to make the job of the local lender easier by, among other things, providing the tools and services they need to better serve the borrowers in their communities."
For further information and get signed up to begin using the CMC Funding servicing released option, MPF Program participants should contact their Federal Home Loan Bank.
About Capital Markets Cooperative
Capital Markets Cooperative (CMC), a Computershare company, leverages the collective power of a nationwide network of mortgage bankers to negotiate better products, services, pricing, and liquidity solutions during the processing, sale and servicing of mortgages. Learn more at: https://www.capmkts.org.
About the MPF Program
Learn more at www.fhlbmpf.com. "Mortgage Partnership Finance" and "MPF" are registered trademarks of the Federal Home Loan Bank of Chicago. The "MPF Mortgage Partnership Finance" logo is a trademark of the Federal Home Loan Bank of Chicago.
SOURCE Mortgage Partnership Finance Program