Financial Services Industry
Industry: Email Alert RSS FeedABA, FHLB agency form strategic alliance
Bank News, January, 2003 by Anonymous
A new strategic alliance has been announced by the American Bankers Association and the Federal Home Loan Banks' Mortgage Partnership Finance Program to develop a program that will benefit community mortgage lenders and increase competition in the secondary mortgage market.
Under the expected arrangement through ABA's subsidiary, the Corporation for American Banking, high-- quality mortgages originated by smaller community lenders will have improved access to the MPF program, the announcement said. Because this will result in larger volume and wider geographic representation, participating banks will receive additional fee income and added value - at no cost - for their MPF mortgages. All FHLB member financial institutions will be eligible to participate.
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