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Credit enhanced products require PFIs to share in the credit risk of the loans sold under the MPF Program. In return for holding a portion of the credit risk, the PFIs are paid credit enhancement fees, which provide an economic incentive to PFIs to retain credit risk on high quality loans.

The MPF Original is a secondary market shared credit, fixed-rate conventional mortgage product purchased by the FHLB where the FHLB's share of losses begins at zero and builds to 4 basis points of the outstanding balance each year. A fixed credit enhancement fee of 10 basis points is usually paid monthly to the PFI.

“Mortgage Partnership Finance”, “MPF”, “eMPF”, “MPF Xtra” and “eMAQCS” are registered trademarks of the Federal Home Loan Bank of Chicago. The “MPF Mortgage Partnership Finance” logo is a trademark of the Federal Home Loan Bank of Chicago. MPF® Acronyms. Revision Date: 9/2/2022.

If you are originating a loan for a first-time homebuyer and they are looking to put as little as 3% in a down payment, the MPF Xtra product allows up to 97% max LTV whereas MPF Traditional only allows up to 95%.

With a shared equity mortgage or Partnership Mortgage a lender will agree to give you a loan alongside your main mortgage in return for a share of any profits when you sell your house or repay the loan.

OVERVIEW. The Mortgage Partnership Finance® Program (MPF®) provides access to the secondary market for FHLB members that are approved Participating Financial Institutions (PFIs).