MPF Volume Up 158%

The Federal Home Loan Banks' Mortgage Partnership Finance program funded $72.1 billion of loans last year, up 158% from the total of the year before.The FHLBank of Chicago, which coordinates the MPF program, also said that 707 FHLBank member financial institutions are approved to fund MPF loans, a gain of 62% from the end of 2002. Total MPF outstanding 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 at year end.