Fannie Mae Approves the MPF® Program to Expand Native American Lending on Tribal Trust Lands
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WASHINGTON, Nov. 7, 2024 ~ Fannie Mae, a government-sponsored enterprise that provides mortgage financing, has announced its approval of the Mortgage Partnership Finance® (MPF®) Program to sell loans made to Native Americans on tribal trust lands. This program is administered by the Federal Home Loan Bank of Chicago on behalf of six Federal Home Loan Banks.

The MPF Program Participating Financial Institutions (PFIs) serving tribal communities will now be able to offer conventional loans on tribal trust lands, thanks to this partnership between Fannie Mae and the Federal Home Loan Bank of Chicago. This is a significant step towards Fannie Mae's ongoing efforts to establish agreements with Native American tribes in the area.

"We appreciate our partnership with the Federal Home Loan Bank of Chicago's MPF Program as we expand opportunities for conventional mortgage lending and sustainable access to homeownership for Native American consumers on tribal trust lands," said Laurel Davis, Senior Vice President of Environmental, Social, Governance & Mission at Fannie Mae.

This initiative, known as the Native American Conventional Lending Initiative (NACLI), aims to provide an additional financing option for Native American borrowers looking to purchase homes on tribal trust lands. In addition to this program, Fannie Mae also purchases HUD Section 184 Indian Home Loan Guarantee Program loans in support of Native American homeownership.

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Patrick Sullivan, Executive Vice President and Group Head of the MPF Program, expressed his excitement about this partnership and its potential impact. "This partnership emphasizes our commitment to supporting affordable homeownership opportunities and sustainable access to credit within historically underserved communities," he said. "We look forward to working with Fannie Mae and our MPF Program lenders across the country to enhance opportunities for Native American consumers in tribal communities."

Fannie Mae has been dedicated to promoting homeownership among Native Americans since 1996 when it established NACLI as the first opportunity for lenders to offer conventional loans on tribal trust lands. By forming relationships with federally recognized tribes and promoting homeownership education in Native communities, supporting Native American lending is a key aspect of Fannie Mae's Duty to Serve plan.

This partnership between Fannie Mae and the Federal Home Loan Bank of Chicago's MPF Program is a significant step towards providing more opportunities for Native American borrowers to access conventional mortgage financing on tribal trust lands. It highlights the commitment of both organizations to support affordable homeownership and credit access in underserved communities.
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