The Federal Home Loan Bank of Chicago has reported that the Mortgage Partnership Finance program ended last year with $41.7 billion of loans outstanding, a 68% increase from 2001.Noting that the amount of mortgage debt outstanding grew an estimated 11% last year, the Chicago FHLB said the program is gaining market share, and that most of the growth has come from member institutions using the MPF as an outlet for conventional loans, as opposed to government-backed loans. During 2002, $27.9 billion of MPF loans were funded through the participating FHLBanks. As of Dec. 31, 437 FHLBank member commercial banks, thrifts, credit unions, and insurance companies were participating in the MPF program.
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