Commerce Home Mortgage LLC has become a member of the Federal Home Loan Bank of San Francisco. In addition, it is one of the few independent mortgage companies that is approved with Fannie Mae, Freddie Mac, Ginnie Mae, and has been certified as a community development financial institution. Membership in the FHLB system offers many of the benefits traditionally enjoyed by banks. Commerce now offers a truly differentiated platform for top- mortgage originators,” said Ted Ray, president of Commerce, a subsidiary of The Capital Corps LLC. “As we move forward, we expect that our FHLB membership will enable us to expand the spectrum of proprietary mortgage products which we are able to offer borrowers.”

The FHLB’s financial products and services are recognized as among the most cost-effective and versatile in the industry, as the FHLB is able to raise funds at rates that are close to Treasury security yields.

The FHLB seeks to enable families and individuals of all income levels to obtain quality housing and become homeowners through services that help member organizations expand the availability of mortgage credit, compete more effectively, and foster strong and vibrant communities through community and economic development.

“Commerce’s FHLB membership will allow us to do great things for diverse, underserved borrowers and communities by expanding relationships with and providing good loans to minority and underbanked borrowers,” said Faith Bautista, chair of Commerce’s Community Advisory Board and chief executive officer of the National Diversity Coalition. “Being a FHLB member with the ability to utilize the FHLB’s full suite of products and services will help us do just that.”

Commerce provides a full range of both traditional and non-traditional mortgage programs. Its newly launched, proprietary portfolio products are perfectly suited for prime borrowers who are underbanked, self-employed or require flexible, common sense underwriting of the loan.