X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN FRANCISCO – Tempe Schools CU, the first Arizona-based credit union to sign up for the Federal Home Loan Bank of San Francisco’s Mortgage Partnership Finance program, joins three other credit unions that have been approved to sell loans to the FHLBank San Francisco. FHLBank San Francisco’s Mortgage Partnership Finance (MPF) program provides members an alternative to holding fixed rate residential mortgage loans in their portfolio or selling them into the secondary market. Eligible loans include 15-, 20-, and 30-year conventional conforming fixed rate mortgages and 15- and 30-year VA fixed rate mortgages on single-family residential properties. Participating Financial Institutions that sell loans to FHLBank San Francisco through the MPF Program share in the credit risk of the loans and are compensated for taking on that risk through a credit enhancement fee. FHLBank San Francisco takes on the interest rate and prepayment risks of the loans it purchases. It does not charge a guarantee fee. Three other California-based credit unions participate in the MPF program through FHLBank San Francisco.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.