Seattle FHLB to Exit Mortgage Purchase Program

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00009999-seattle-fhlb-to-exit-mortgage-purchase-pr/

The Federal Home Loan Bank of Seattle said it will exit one of its programs that competes with the giant securitization programs of Fannie Mae and Freddie Mac.

In a press release on Wednesday, the bank said it is developing an “exit strategy” for the Mortgage Purchase Program (MPP) as part of its effort to decrease its exposure to interest-rate fluctuations.

The Seattle FHLB is one of the 12 FHLB regional banks. The Federal Home Loan Bank System was created by the U.S. Congress with the goal to broaden home ownership.

For this complete story, please visit Seattle FHLB to Exit Mortgage Purchase Program.

Seattle FHLB to Exit Mortgage Purchase Program

Unknown Author

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