Member banks of the Federal Home Loan Bank System may soon be able to purchase mortgages from originators through a platform designed by Washington-based, secondary market Internet trading company Pedestal Inc.

The platform, called, will enable participating financial institutions (PFIs) to link up with lenders and purchase loans that will be funneled into the FHLBanks' MPF Program. The company hopes to have loans begin selling on the service by the end of the month.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.