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| May 15, 2007 - Federal Home Loan Bank of Atlanta ( |
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Federal Home Loan Bank of Atlanta Announces Participation in Global Mortgage Alliance Program to Support the Liquidity Needs of Member Financial Institutions Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will participate in a new program that will help community financial institutions sell residential mortgages loans into the secondary mortgage market. FHLBank Atlanta`s regulator - the Federal Housing Finance Board - has approved FHLBank Atlanta`s participation in the Global Mortgage Alliance (GMA), which will create a valuable alternative in the secondary market without requiring the Bank to commit capital or guarantee the creditworthiness of loans that are packaged and sold as securities. "GMA represents an important evolution of the Bank`s liquidity mission for its members," said FHLBank Atlanta Interim President and CEO William H. Ott, Jr. "One of the great benefits of this program is that it rewards members for the quality of their credit underwriting, without exposing the Bank to the additional risks associated with placing the mortgages on its balance sheet." Global Mortgage Alliance, LLC (GMA LLC), an affiliate of Hillenbrand Partners and a member of FHLBank Atlanta, developed the Global Mortgage Alliance program to continue FHLBank Atlanta`s mission of providing liquidity to member financial institutions, many of which traditionally have limited options for selling mortgage loans in the secondary market. FHLBank Atlanta will market the program to member institutions, handle processing duties, and perform other back office operations. GMA LLC will purchase fixed-rate, conforming residential mortgages from other members of FHLBank Atlanta, including community banks, savings institutions, and credit unions. "We are very pleased with the opportunity to work with the Federal Home Bank of Atlanta, which is such a valuable resource for community financial institutions that engage in residential mortgage lending," said Eric M. Hillenbrand, Managing Partner and Chief Executive Officer of Hillenbrand Capital. "The alliance will offer these institutions a way to unlock the value of their high-quality credit underwriting." About FHLBank Atlanta FHLBank Atlanta is a financial services organization that provides low- cost funding, community development grants, and other banking services to more than 1,200 financial institutions in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System, which since 1990 has contributed more than $2 billion to affordable housing development in the United States. Some of the statements made in this press release may be "forward-looking statements," including those that relate to Global Mortgage Alliance, which include statements with respect to FHLBank Atlanta`s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, many of which may be beyond FHLBank Atlanta`s control, and which may cause FHLBank Atlanta`s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements. The forward-looking statements may not be realized due to a variety of factors, including: future economic and market conditions; changes in demand for advances or consolidated obligation; changes in interest rates; legislative and regulatory changes; political, national and world events; and adverse developments or events affecting or involving other FHLBanks or the FHLBank System in general. Additional factors that might cause FHLBank Atlanta`s results to differ from these forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, available through FHLBank Atlanta`s website at http://www.fhlbatl.com/. Source: Federal Home Loan Bank of Atlanta CONTACT: Christopher McEntee of Federal Home Loan Bank of Atlanta, Web site: http://www.fhlbatl.com/ |
| Federal Home Loan Bank of Atlanta ( by istopher McEntee, Atlanta- |
