Homeownership Solutions Founded on Community
At Nicolet National Bank, a community bank in Green Bay, Wisconsin, the importance of community runs deep. “We support our communities, not just by what we give, but also by offering the most innovative products in the market place,” said Eric Witczak, Executive Vice President, Nicolet National Bank. “Our partnership with the FHLBank Chicago is a perfect example of this principle. We combine our strengths to help Nicolet National customers achieve homeownership.”
By leveraging Mortgage Partnership Finance® (MPF®) Program products, Nicolet National Bank accesses the secondary mortgage market to originate and sell conventional fixed-rate residential mortgage loans. “For many families, homeownership seems unattainable, but through the utilization of MPF products, along with forgivable Downpayment Plus® Program grants, it is within reach,” added Witczak. “We were able to award 23 new homebuyers with this unique down payment assistance program, without which some may not be in homes today.”
Last year, Nicolet National Bank expanded its MPF portfolio by using products that provide additional fee income in exchange for sharing a small amount of credit risk. “By transitioning to MPF 35, we have increased profitability by taking a measured risk that is within our comfort zone,” concluded Witczak.
At year-end 2018, MPF loans outstanding on FHLBank Chicago’s balance sheet were $7.1 billion, up 37% from year-end 2017.