The Mortgage Partnership Finance (MPF) Program of the Federal Home Loan Bank System is now using LoanScorecard’s Portfolio Producer product and pricing engine (PPE) and distribution solution.
The implementation enables the MPF Program to provide its products and pricing to participating financial institutions at no additional cost.
The Federal Home Loan Banks are member-owned cooperatives that provide funding solutions and liquidity to over 7,000 members that support mortgage lending, economic development, and affordable housing in the communities they serve. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions.
With Portfolio Producer, participating institutions can share loan file data with their FHLBank via their loan origination system (LOS). The FHLBank uses that data to determine and distribute real-time loan scenario-specific products and pricing, as well as provide applicable loan-level price adjustments based on loan characteristics, delivery commitment, and remittance options – all without having to leave their LOS. Selected product, price and LLPAs are then written back to the loan file.