RADNOR, Pa.--(BUSINESS WIRE)--
Essent Guaranty, Inc., a nationwide provider of mortgage insurance (MI),
announced today the Federal Home Loan Bank of Boston (“FHLB Boston”)
approved Essent Guaranty as an eligible mortgage insurer for loans
purchased under its Mortgage Partnership Finance® program, which
provides member institutions a competitive secondary market alternative.
With this approval, Essent Guaranty is now an eligible mortgage
insurance provider to all Federal Home Loan Banks across the nation with
mortgage purchase programs.
“Essent Guaranty is thrilled to receive the FHLB of Boston’s approval to
expand services and help meet the mortgage insurance requirements of all
its participating financial institutions in New England,” said Jeff
Cashmer, Essent’s Chief Business Officer. “We look forward to providing
credit enhancement for loans through the Mortgage Partnership Finance®
program. Essent offers FHLB Boston member institutions the benefits of
working with a strong and fair counterparty and dedicated customer
service to best serve their home financing needs for low down payment
borrowers.”
About Essent
Essent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company which,
through its wholly-owned subsidiary Essent Guaranty, Inc., offers
private mortgage insurance for single-family mortgage loans in the
United States. Essent provides private capital to mitigate mortgage
credit risk, allowing lenders to make additional mortgage financing
available to prospective homeowners. Headquartered in Radnor,
Pennsylvania, Essent Guaranty, Inc. is licensed to write mortgage
insurance in all 50 states and the District of Columbia, and is approved
by Fannie Mae and Freddie Mac. Additional information regarding Essent
may be found at www.essentgroup.com.
About the MPF Program
The MPF Program was created in 1997. To participate in the MPF Program,
a financial institution must be a member of a Federal Home Loan Bank
(FHLBank) that offers the MPF Program. Currently, new loan purchases are
available through the following FHLBanks: Atlanta, Boston, Chicago,
Dallas, Des Moines, New York, Pittsburgh, San Francisco, Seattle, and
Topeka.
The U.S. Congress created the FHLBank System in 1932. The System
comprises 12 FHLBanks across the country. Each FHLBank is cooperatively
owned by member financial institutions and managed by its own Board of
Directors.
“Mortgage Partnership Finance,” “MPF,” and “MPF Xtra” are registered
trademarks of the Federal Home Loan Bank of Chicago. The “MPF Mortgage
Partnership Finance” logo is a trademark of the Federal Home Loan Bank
of Chicago.
Source: Essent Group Ltd.