| Term |
Up to 30 years fully amortizing
|
| Maximum LTV |
95 percent
|
| Loan Limits |
Agency-conforming
|
| Occupancy |
Owner occupied (one to four units)
and second homes
|
| Property Type |
All types except co-ops and investment
properties
|
| Underwriting |
Follow MPF Origination guidelines
(LP/DU decisions considered)
|
| Remittance |
Scheduled/scheduled, actual/actual,
or actual/actual single remittance
|
| Commitment Delivery |
3, 10, 20, 30, and 45 business days
|
| Pricing |
Premium and discount pricing available
|
| Credit-Enhancement
Obligation |
Reset periodically
|
Credit-Enhancement
Fee |
Typically 7-10 bps paid on outstanding
master commitment balance; adjusted for loan losses
|
Master-Commitment
Size |
$5 million minimum |
"Mortgage Partnership Finance"
and "MPF" are registered trademarks of the Federal
Home Loan Bank of Chicago.
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