MPF Connection
Volume 7 | Issue 16
Watertown Saving Bank – 7 Years and Still Thrilled with the MPF Program
There’s no better testimony than that which comes from your community lending peers. Mark R. Lavarnway, President & CEO of Watertown Savings Bank finds the Mortgage Partnership Finance® (MPF®) Program to be the right fit for his institution.
Dear Tom:
I am pleased to be able to share with you the positive experiences that Watertown Savings Bank has enjoyed with the FHLBNY and the MPF Program. As you know, we originally spoke to the FHLBNY and other secondary market alternatives when we were contemplating which secondary market partner to utilize in our fixed-rate mortgage offerings. It was clear from the very start of the process that the FHLBNY was the right fit for our bank. Now, approximately seven years later, we are thrilled with our choice and have never looked back.
The MPF Program has the product offerings that we need to be competitive, and the pricing that we need to make the overall effort worthwhile. Through our utilization of the MPF Program, we have expanded our product offerings, added meaningful income to the bottom line, and solidified our customer base. A combination that is hard to beat.
The MPF team also provides outstanding customer support in all areas. The service that we receive from the top down is exemplary. I have often joked that the MPF “1-800 number” is the only “800 number” that doesn’t make me cringe at the very thought of calling it. The customer support, in our opinion, is what sets the MPF Program on another level relative to other choices.
We look forward to a long standing relationship with the FHLBNY and frankly we thank them for offering the MPF Program to community banks such as Watertown Savings Bank – it’s where we belong and it works.
Sincerely,
Mark R. Lavarnway, President & CEO
Watertown Savings Bank
Watertown is certainly seeing the value of MPF Program participation. To discuss how the MPF Program could offer the same to your institution, contact Tom at (212) 441-6712 and/or Heather at (212) 441-6701 today.
