Robert Hart named to new Advisory Council formed by Mortgage Partnership FinanceJune 1, 2012

Robert Hart, Senior Vice President of Residential Lending at Manasquan Savings Bank, has been named to the MPF Advisory Council to represent the FHLBank New York division. There are eighteen council members total across the country that will serve for a three year term and meet quarterly.

Mortgage Partnership Finance was created in 1997 to help financial institutions fund loans for families across America to purchase new homes or lower the cost of their existing homes. To participate in MPF, a financial institution must be a member of a Federal Home Loan Bank (FHLBank), which is a system created by U.S. Congress in 1932. Members borrow funds from their Home Loan Bank to finance housing, jobs, and economic growth.

The MPF Advisory Council will provide a national forum for experienced mortgage professionals to share their expertise, experiences, and views of real estate lending activity and general market issues affecting housing. Bob Hart has worked in residential lending for over 28 years and as such is well qualified to provide insightful information. “This is an honor to be appointed to the inception of the MPF Advisory Council. I’m excited to serve the organization and lend my voice to conversations that will lead to positive actions in assisting families to purchase a home,” says Bob Hart.

The MPF Program makes it easier for members of the FHLBank System to access the secondary mortgage market and make fixed-rate mortgages available in their communities. “This Advisory Council will be an excellent medium to gather feedback and ideas from community lenders who are experts in their field,” said Eric Schambow, Senior Vice President and Director of the MPF Program.

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