The Federal Home Loan Bank of Chicago will issue Ginnie Mae MBS backed by mortgages originated by member financial institutions, the two entities announced jointly this week. The new conduit product, called the MPF Government MBS, is an offshoot of the Chicago FHLBank’s Mortgage Partnership Finance program. The new product is intended to provide smaller mortgage lenders that lack direct access to the secondary mortgage market another option for their customers. Lenders will be...