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 what they deliver into MAP
• 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

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 19 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 is working with a market leader to provide a customized asset management system that allows members to seamlessly manage their pipeline and master commitments
• True Sale: MAP’s risk-sharing structure allows for a “true” legal sale