CHICAGO, March 31, 2011 /PRNewswire/ -- The Mortgage Partnership Finance (MPF®) Program is pleased to welcome Jennifer Burlison as its new Senior Vice President, National Marketing Director. Jennifer will focus on launching new product initiatives and a national marketing strategy that will secure the MPF Program's premier position in the mortgage industry.
Jennifer is well acquainted with the MPF Program, having successfully established and managed the Federal Home Loan Bank of San Francisco's participation in the program for seven years. Most recently, Jennifer worked with Neighborhood Housing Services of America.
"Jennifer recently returned from the Independent Community Bankers Association's national convention where the MPF Program was a major sponsor and exhibitor. She received a warm welcome," said Eric Schambow, Senior Vice President and Director of the MPF Program. "We're excited about the energy and experience Jennifer brings to the program as we launch a new chapter in our 13-year history."
Key MPF Program Financial Results for 2010 (Unaudited)
Approved Participating Financial Institutions (PFIs)
MPF assets funded in 2010
Over $7.8 billion
Total MPF assets funded since program began in 1997
Over $187 billion
Credit Enhancement Fees Paid to PFIs
Over $600 million
Losses Incurred by PFIs
About the MPF Program
The Mortgage Partnership Finance Program makes it easier for members of the Federal Home Loan Bank System to access the secondary mortgage market and make fixed-rate mortgages available in their communities through several unique credit risk sharing products for which members are paid credit enhancement fees. To participate in the MPF Program, a financial institution must be a member of a Federal Home Loan Bank that offers the MPF Program. Currently, new loan purchases are available through the following Federal Home Loan Banks: Boston, Chicago, Des Moines, New York, Pittsburgh, and Topeka.
The U.S. Congress created the FHLBank System, which includes 12 FHLBanks across the country, in 1932 to promote housing finance. The FHLBanks, which are wholly owned by their member institutions, provide housing finance to more than 8,000 member commercial banks, savings institutions, insurance companies, and credit unions.
"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 Federal Home Loan Bank of Chicago