Pilot Program in Chicago Could Boost Order Pipeline from Community Banks, Credit Unions
July 15, 2014
The Federal Home Loan Bank (FHLB) of Chicago expects to get approval to buy home loans and issue mortgage-backed securities guaranteed by the Government National Mortgage Association. If adopted by other FHLBs, the program could increase the availability of FHA/VA and rural housing lending to smaller areas of the country because community banks and credit unions would have the same pricing access as big banks.
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