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FHLBanks MPF Volume Jumps to $72.1 Billion in '03

The Federal Home Loan Banks Mortgage Partnership Finance program funded $72.1 billion of loans last year, up 158% from the year before.

The FHLBank of Chicago, which coordinates the MPF program, also said that 707 FHLB member financial institutions are approved to fund MPF loans, a gain of 62% from the end of 2002.

Total MPF assets grew 108% last year to $86.7 billion. The Chicago FHLBank said the growth was primarily driven by conventional loans, reporting that the balance of conventional loans outstanding in the MPF program grew 153% during the year to $74.5 billion.Outstanding conventional mortgages grew at a 13.3% annualized rate through the first three quarters of last year. In addition, the Chicago Bank reported that it completed two securities transactions through the MPF Shared Funding program last year.

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