MPF Xtra^®

Benefits

The MPF Xtra product provides additional flexibility through:

• Low down payment options: LTV ratios up to 97% and HomeReady^® purchase transactions for first-time home buyers. Combine with FHLB Des Moines Home$tart Down Payment Program funds for additional borrower benefits.
   
• Investment properties accepted: In addition to owner-occupied primary and secondary residences, MPF Xtra allows PFIs to originate and sell investment property loans.
   
• Day 1 Certainty^® - Offer your borrowers an improved digital experience with less paperwork.
   
• Appraisal waivers: Available through DU^®, this provides a no-cost alternative to the appraisal while eliminating the expense of appraisal-related delays in the origination process.
   
• Option for Best Efforts Delivery Commitment: Effectively manage your mortgage pipeline without the interest-rate risk*.
   
• No activity stock purchase required: as a pass-though product, you transfer the interest rate and prepayment risks as well as the credit risk of the associated loans to an investor.
   
• No collateral required: Selling loans into MPF Xtra does not require collateral pledged to FHLB Des Moines and does not impact to your borrowing capacity.