Mortgage Asset Program (MAP®)

A New Secondary Market Outlet

The Federal Home Loan Bank of New York (FHLBNY) offers the Mortgage Asset Program (MAP®) as a secondary market outlet for our members to fund mortgages and be competitive in offering fixed-rate mortgage loan products. MAP gives mortgage lenders an alternative to funding mortgages while allowing flexibility and transparency from both an operational and an economic perspective.

Key Features

A flexible program with competitive pricing catered to our local markets
No loan level price adjustments
A pathway to accumulate FHLBNY Stock – members are required to purchase capital stock equal to 4.5% of the value of loans sold into MAP at the time of funding
Simplified credit risk sharing structure with the added potential to be rewarded with fee income for strong loan performance
No risk-based capital impact or collateralization requirements on loans sold
Newly Released: Tiered pricing based on loan size for fixed 30-year delivery commitments
With this release, MAP pricing for lower balance loans will be more competitive making it more advantageous for you to sell smaller balance loans through MAP.
Now Available: Servicing-Released sale option to maximize your upfront cash revenue received while also reducing operational expense

Loan Eligibility

Members can deliver fixed-rate conforming conventional and government mortgage loans with terms of 15, 20, and 30 years on owner-occupied primary and second homes. Property types include 1-4 unit, condos, units in Planned Unit Developments (PUDs), rural, and mixed-use. In addition, members have a choice of remittance types: Actual/Actual Multiple, Actual/Actual Single and Scheduled/Scheduled. A servicing-released alternative is also available.

Benefits of Participating in MAP®

The FHLBNY is at your service!

Ease of Use for Members: we have a dedicated team of employees whose priority is to provide members support from end to end as they sell loans into MAP
Customer Service and Vendor Control: the FHLBNY has a direct line of communication with the Quality Control, Document Custodian, and Master Servicing vendors to quickly address any member concerns
Transparency and Flexibility: we will continue to update and evolve MAP to tailor to member needs in a methodical and transparent manner, taking member feedback into account
Modern Technology Platform and Process: the FHLBNY works with a market leader to provide a customized asset management system that allows members to seamlessly manage their pipeline and master commitments
- New: Partnership with the ICE PPE platform and Optimal Blue (OB) Marketplace to provide value-added services, such as real-time MAP rates and guidelines
True Sale: MAP’s risk-sharing structure allows for a “true” legal sale