FNBC Bank Says ‘Yes’ to More Borrowers, Thanks to Mortgage Product from FHLB Dallas
A relatively new mortgage product offered through the Federal Home Loan Bank of Dallas (FHLB Dallas) has resulted in FNBC Bank saying “yes” to more families seeking the American Dream of homeownership. The Ash Flat, Arkansas-based community bank has been taking advantage of the MPF Xtra® mortgage product since FHLB Dallas began offering in 2013.
The MPF Xtra® mortgage product gives FHLB Dallas member institutions like FNBC Bank true delegated underwriting authority, while transferring interest rate, prepayment, and credit risks from the member to the secondary market. It also gives member institutions the option to retain or sell servicing.