First, MGIC is an important person in our FHLBank therefore we give thanks to you towards the membership additionally the union

This has been almost half a dozen many years since that time and contains already been a good time dealing with both the bank’s mortgage and thread profile assets and you may funding !

There are only three homes GSEs inside nation: Federal national mortgage association, Freddie Mac computer, together with FHLBanks. From the financial business, everybody knows Fannie and you will Freddie, but the FHLBanks aren’t also known otherwise know. This struck myself given that a large options, thus i left Fannie during the 2002 to become listed on the latest FHLBank Chicago that assist they create and build their secondary mortgage named MPF. We had high success when it comes to those early years. Like, MPF expanded out of $16 billion in 2001 to $twenty-seven million within the 2002 so you’re able to $71 million from inside the 2003. During the individuals many years Fannie and you will Freddie including began to slip into hard times tied to the massive proportions, bookkeeping activities, ultimately the latest casing drama.