Conventional Products
Under the MPF® Original, MPF 125, MPF 35, and MPF Xtra® products, participating Financial Institutions can originate and sell conventional fixed-rate residential mortgage loans, with the option to receive Credit Enhancement Fee income for sharing in the credit risk.
New MPF® Habitat for Humanity® Program
Through the MPF Habitat for Humanity Program, approved FHLBank Chicago members can deliver affordable, below‑market rate loans (approximately 250 basis points below market) to homebuyers working with Habitat for Humanity affiliates in Illinois and Wisconsin while still receiving premium pricing of 101 through an FHLBank Chicago contribution.
Explore the MPF® Program's conventional/confirming loan products to find flexible solutions that support homeownership.
| Features | MPF Original | MPF 125 | MPF 35 | MPF Xtra® | |
|---|---|---|---|---|---|
| Execution | Credit Enhancement Obligation: contingent liability of PFI | • | • | • | |
| Credit Enhancement Fee Income: 6–12 basis points paid to PFI | • | • | • | ||
| Loan level/investor price adjustments | • | ||||
| Underwriting | Loan terms: fully amortizing, up to 30-year fixed rate | • | • | • | • |
| Occupancy: owner-occupied/second home | • | • | • | • | |
| Investment property | • | ||||
| Mortgage insurance coverage required | • | • | • | • | |
| Fannie Mae Desktop Underwriter (DU) access included | • | ||||
| Maximum LTV (%) | 97 | 97 | 97 | 97 | |
| Servicing | Servicing options: released or retained | • | • | • | • |
| Remittance options: A/A or S/R | • | • | • | ||
| Remittance options: A/A Only | • | ||||
| Servicing fee income (bps) | 25 | 25 | 25 | 25 | |
| Delivery | Master commitment: required; $5 million minimum Delivery commitments: mandatory | • | • | • | • |
| Master commitment: required; $5 million minimum Delivery commitments: best efforts | • | ||||
| Same-day loan delivery and funding | • | • | • | Next day* | |
| Structure | Credit enhanced: FHLBank and PFI share credit risk | • | • | • | |
| First Loss Account (bps) | 4/annum | 100 | 35 | ||
Product terms subject to change; contact your Sales Director for the most current product information.
PFI = Participating Financial Institution
A/A = Actual/Actual
S/R = A/A Single Remittance
*Generally next day for mandatory delivery; two business days for best efforts
Related Resources
Learn more about the MPF Program and how we partner with participating members to enhance profitability and provide support for all secondary mortgage market needs.
MPF Enhanced Guidelines Product Sheet
Find an overview of the recently enhanced MPF Traditional guidelines.
MPF Enhanced Guidelines FAQ
Find answers to your questions about the recently enhanced MPF Traditional guidelines.
MPF Program Guide
The MPF Program Guide contains a general overview of the program.
View More Guides
Explore more MPF guides for specific product types.
Webinars
Want to learn more? Attend an MPF Program webinar.
Products Offered
Explore the MPF Program's conventional / conforming loan products to find flexible solutions that support homeownership.