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FHLB Chicago MPF · Program Announcement MPF Announcement 2026-30 · Published

MPF Traditional Servicing Retrospective Property Valuation Definitions

The MPF Program updated guidance regarding retrospective valuation review classifications within its traditional servicing standards. In addition, Form SG337 was modified to reflect clarified descriptions for desktop and field reviews.

Review recommendedIn effect nowAll checks passedRead the announcement ↗ (opens in a new tab)

Loan impact

Summarized from the announcement · verified

Applies to: MPF Traditional mortgages requiring retrospective property evaluations or high level concern notifications.

Addressed to
MPF participating financial institutions (PFIs)From the publisher, not quoted from the text
Investor
MpfFrom the publisher, not quoted from the text
Affected area
ValuationGuide Section 8.8.3
Affected documents
Form SG337; MPF Traditional Servicing Guide
Applicability confidence
Verified: every row taken from the source text is supported by it; rows marked "from the publisher" are not quoted

Summary by AWACS. FHLB Chicago MPF's guide is proprietary, so AWACS does not reproduce its text. Read the official announcement ↗ (opens in a new tab)

What changed

Summarized from the announcement · Section 8.8.3
RequirementPreviouslyNow
Retrospective property valuation review classificationsClarifiedNot statedClarified definitions for enhanced desktop reviews and field reviews under HLC property evaluations.
Notification form terminology alignmentClarifiedNot statedRevised the High Level Concern Mortgage Notification form to incorporate updated review definitions.

What to do

AWACS interpretation · not source language

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.

QC implications

  • Quality control may sample retrospective property evaluations to verify that enhanced desktop reviews, field reviews, and completed Form SG337 notifications reflect the updated review definitions.

Source and record

Version 1 · archived

Checks

  • Source verified: Passed

    The document ID, link and publication date match the official source.

  • Quotes match the source: Passed

    Every quoted passage appears word for word in the official document.

  • Requirements backed by the source: Passed

    Anything marked required is backed by the requirement language and dates in the source.

  • In scope: Passed

    The document is about residential mortgage lending.

  • Format and labels: Passed

    The record follows the AWACS format and uses its standard labels.