Updates / FHLB Chicago MPF
47 FHLB Chicago MPF changes tracked by AWACS, newest first. Each links to its summary, effective date, loan impact and the official document.
Applies to: Mortgages serviced under MPF Traditional secured by properties situated in disaster areas.
What to review: Review servicing procedures immediately to ensure prior approval requests and supplemental documentation for disaster-damaged properties adhere to the mandatory submission deadlines. AWACS interpretation
Applies to: Loans delivered under program delivery guidelines utilizing the updated exhibit and loan presentment request form.
What to review: Review the updated delivery dataset reference exhibit and loan presentment request form to assess the newly added appraisal and property estate enumerations. AWACS interpretation
Applies to: Conventional loans serviced under the MPF Xtra program requiring direct escrow event reporting.
What to review: Review updated file format and naming requirements for MPF Xtra escrow event submissions to Computershare effective December 1, 2026, noting the option to begin reporting as early as November 9 upon completing testing. AWACS interpretation
Applies to: Applies to mortgage loans delivered under the MPF Traditional and MPF Xtra products.
What to review: Review the appraisal dataset transition flexibility allowing MPF Traditional participants to use the extension through May 19, 2027 without additional actions and determining whether Fannie Mae exceptions apply to MPF Xtra deliveries. AWACS interpretation
Applies to: VA refinance loans delivered to the MPF Program under delivery commitments created on or after October 13, 2026.
What to review: Start with how VA refinance loans are assigned a subproduct and pricing grid when they are delivered to MPF. Commitments created on or after October 13, 2026 must use the new Govt 30 Yr VA Refinance subproduct and its matching grid, while commitments created before that date may still use any Government subproduct. AWACS interpretation
Applies to: Covers every MPF Program file that PFIs exchange with the MPF Program Master Servicer.
What to review: Review first the required change that, starting 2026-09-25, every MPF Program file upload and download with the Master Servicer must go through TrustConnect, which replaces ServicerConnect; the record says current usernames and passwords carry over. AWACS interpretation
Applies to: MPF Xtra loans with mortgage insurance, where servicers may now reach out to borrowers who could qualify to end MI based on current property value.
What to review: Nothing in this record is mandatory: starting immediately, servicers of MPF Xtra loans with mortgage insurance may contact borrowers who might meet the LTV requirements for ending MI based on current property value and explain what actions and documents a request needs, and they must still send Form SG-343 to the MPF Provider every time MI is cancelled or terminated. AWACS interpretation
Applies to: Applies to RefiNow loans delivered under the MPF Xtra product.
What to review: Review RefiNow underwriting procedures immediately to ensure all deliveries under MPF Xtra obtain an Approve/Eligible recommendation from Desktop Underwriter, and note the alignment of project review waivers with standard Selling Guide terms. AWACS interpretation
Applies to: Desktop Underwriter loans scored with VantageScore 4.0 that are sold into the MPF Xtra product.
What to review: Review the optional flexibility permitting the delivery of Desktop Underwriter loans scored with VantageScore 4.0 solely under the MPF Xtra product. AWACS interpretation
Applies to: Clarification applies to MPF Traditional mortgages underwritten manually or with an automated underwriting system.
What to review: Review the clarification stating that MPF Traditional mortgages require a baseline 620 FICO score whether underwritten manually or through an automated system unless an exception applies. AWACS interpretation
Applies to: All participating financial institutions servicing or transmitting files for MPF Program loans.
What to review: Review internal workflows and system configurations to transition all secure file exchanges to TrustConnect. AWACS interpretation
Applies to: Loans delivered under the MPF Xtra and MPF Traditional products undergoing servicing transfer to Newrez.
What to review: Review the updated Newrez servicing transfer manual exhibits reflecting the tax service fee increase from $80.00 to $85.00 for MPF Xtra and MPF Traditional transfers. AWACS interpretation
Applies to: Conventional mortgages delivered under the MPF Xtra product structure.
What to review: Review the additional optional low loan balance pricing schedules available for MPF Xtra delivery commitments to determine whether to use them alongside current rate grids. AWACS interpretation
Applies to: Participating financial institutions delivering government mortgages, specifically VA guaranteed loans, under the MPF Traditional program.
What to review: Review the clarified VA guaranty threshold and conforming loan limit requirements alongside the updated delivery representations for government loans. AWACS interpretation
Applies to: This update applies to conventional loans delivered under the MPF Traditional program that undergo quality control repurchase reviews.
What to review: Review the updated Exhibit GG workflow steps for MPF Traditional repurchase requests to ensure internal documentation aligns with the renumbering and step removals. AWACS interpretation
Applies to: Loans delivered under the MPF Traditional program featuring temporary interest rate buydowns.
What to review: Review the alignment of temporary buydown qualifying debt-to-income limits with standard parameters of 43 percent for manual files and automated underwriting system determinations for approved submissions. AWACS interpretation
Applies to: Servicers reporting escrow events for residential mortgages under the MPF Xtra program.
What to review: Review the mandatory shift to Excel or JSON formatting and standard file naming protocols for MPF Xtra escrow reporting effective December 1, 2026, alongside testing prerequisites for optional early transmission. AWACS interpretation
Applies to: Loans serviced under MPF Traditional that are actively in foreclosure when impacted by a disaster event.
What to review: Review servicing procedures immediately to ensure required disaster impact notifications are submitted within two business days for MPF Traditional properties in foreclosure. AWACS interpretation
Applies to: Loans presented to the investor under traditional conventional, government, Xtra, or Government MBS programs.
What to review: Review the three new mandatory eMPF loan presentment screen data fields effective July 10, 2026, as well as the updated Loan Presentment Request Form OG3. AWACS interpretation
Applies to: Loans delivered under sub-products that include an eighty percent area median income eligibility threshold.
What to review: Review the updated 2026 area median income figures and refreshed lookup tools to understand how funding validations will evaluate eighty percent income limits beginning June 15, 2026. AWACS interpretation
Applies to: Participating financial institutions and servicers requesting approval for significant ownership structure changes.
What to review: Review the clarification allowing MPF Banks to require additional conditions regarding representations, credit enhancement, and collateral when evaluating significant ownership transfer requests. AWACS interpretation
Applies to: Residential mortgages originated and delivered under the MPF Xtra program.
What to review: Review the option to use IRS Form 8821 for tax transcript requests alongside the clarification on authorized user tradelines and the upcoming retirement of rural high-needs appraisal waivers. AWACS interpretation
Applies to: The policy revisions apply to all mortgages undergoing post-closing quality control reverification under MPF programs.
What to review: Review updated quality control reverification standards that permit obtaining tax transcripts only when tax returns were used to qualify the borrower and limiting reverification to qualifying income and employment sources. AWACS interpretation
Applies to: Mortgages serviced under the MPF Traditional program undergoing forbearance, disaster loan modifications, or foreclosure actions.
What to review: Review the mandatory loss mitigation updates effective September 1, 2026, focusing on approval requirements for disaster-related foreclosures and three-month forbearance increments before considering the relaxed modification eligibility criteria. AWACS interpretation
Applies to: Conventional loans originated under the Native American Conventional Lending Initiative secured by tribal trust lands delivered via MPF Xtra.
What to review: Review the guidance allowing participating financial institutions to deliver eligible Fannie Mae Native American Conventional Lending Initiative mortgages secured by tribal trust lands through MPF Xtra, including relevant tribal agreements and program standards. AWACS interpretation
Applies to: Servicers handling loans under the MPF Traditional, MPF Government MBS, and MPF Xtra programs.
What to review: Review the mandatory immediate timing requirement that collateral document release requests must be submitted no later than the second business day of the month following loan payoff or liquidation. AWACS interpretation
Applies to: MPF Traditional mortgages undergoing a payment deferral or loan modification workout.
What to review: Review loss mitigation servicing procedures immediately to ensure escrow analyses for deferrals and modifications reflect current tax and insurance figures and add shortages to monthly payments. AWACS interpretation
Applies to: MPF Traditional mortgages requiring retrospective property evaluations or high level concern notifications.
What to review: Review the clarified definitions for enhanced desktop and field reviews under high-level concern property evaluations in Section 8.8.3 alongside the revised Form SG337. AWACS interpretation
Applies to: All mortgages delivered to the program requiring loan presentment.
What to review: Review the immediate requirement to submit all loan presentments through the online portal rather than on paper, along with the revised special feature code references in Exhibit Q. AWACS interpretation
Applies to: All institutions submitting quality control file communications and maintaining contacts within the portal.
What to review: Review portal contact directory management procedures to ensure institutional quality control recipients are entered on individual rows and mapped to the consolidated contact classification. AWACS interpretation
Applies to: All MPF Xtra mortgage loans secured by properties located in disaster areas.
What to review: Review the mandatory MPF Bank email approval protocol and submission deadlines for disaster-related foreclosures before reviewing aligned Fannie Mae disaster forbearance and Flex Modification options. AWACS interpretation
Applies to: Loans delivered under the MPF Traditional program, including designated agency affordable offerings and manufactured housing.
What to review: Review the mandatory mortgage insurance coverage restriction prohibiting reduced coverage on high-LTV agency loans first, followed by expanded options for 97 percent financing and manufactured housing terms. AWACS interpretation
Applies to: Mortgage loans delivered or serviced under the MPF Government MBS product.
What to review: Review selling and servicing procedures immediately to ensure MPF Government MBS mortgages are confirmed clear of any security interest, beneficial claim, or encumbrance involving the MPF Bank. AWACS interpretation
Applies to: Mortgages evaluated through Desktop Underwriter under the MPF Xtra product line.
What to review: Review the updated 660-day Desktop Underwriter retention period for single-close construction loans and the availability of employer-level income validation. AWACS interpretation
Applies to: This servicing policy applies to residential mortgages delivered under the MPF Xtra program.
What to review: Review internal servicing workflows to ensure payoff reporting discrepancies for MPF Xtra loans are identified and communicated to the MPF Service Center by the initial business day of the subsequent month. AWACS interpretation