The Federal Home Loan Bank of Dallas has signed up for the Mortgage Partnership Finance Xtra program so its member banks and thrifts can sell their conventional mortgages to Fannie Mae via a conduit run by the Chicago FHFB.
Dallas FHLB president and chief executive Terry Smith noted that the
“The beauty of MPF Xtra is that it lets smaller lenders provide the same competitively priced loans as larger banks while keeping the personal, local touch their customers appreciate,” Smith said.
There are 12 regional FHLBs. The Dallas bank joins six other FHLBs that participate in the MPF Xtra program—Boston, Chicago, Des Moines, New York, Pittsburgh and Topeka.
As of Dec. 31, there were 378 active MPF Xtra lenders and they sold $6.9 billion in Fannie single-family loans through the conduit in 2012.
“MPF Xtra loan volume doubled in 2012,” said MPF program director Eric Schambow. “We couldn’t be more pleased that the Dallas Home Loan Bank is offering this benefit to its members,” he added.
A senior vice president at the Chicago FHLB, Schambow has been in talks with other FHLBs about joining the MPF Xtra program.
