Established mortgage-lending institutions are requested to apply for Approved Financial Institution (AFI) status (referred to as seller / servicer) to facilitate the JMB purchasing mortgages originated by the institution.


The JMB would purchase the mortgages at the weighted average price of the pool of mortgages. This yield must be at least three (3) percentage points above JMB’s cost of funds. The spread would then be shared with the seller / servicer based on negotiations.

Benefits to AFI Seller / Servicers

  • By selling their mortgages to the JMB, financial institutions would transform a long-term loan to cash that they, as approved seller/servicers can use to make additional loans. This would allow the financial institutions to develop a wider client base and to satisfy the needs of more of their customers.
  • The approved seller/servicer would earn a fee for continuing to service the mortgages.
  • Mortgage documents would be standardized, thereby reducing the cost for writing a mortgage.