Loan impact
Summarized from the announcement · needs reviewApplies to: Conventional loans delivered under MPF Xtra involving remote notarization or IRS payment agreements.
Scope differs by change; see each change below.
- Addressed to
- MPF participating financial institutions (PFIs)From the publisher, not quoted from the text
- Investor
- MpfFrom the publisher, not quoted from the text
- Effective
- Note dates on or after May 6, 2026
- Applicability confidence
- Needs review: some rows could not be matched to a quote from the source
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| Requirement | Previously | Now |
|---|---|---|
| Remote online notarization MISMO standardsClarified | Not stated | Adopts updated MISMO specifications for digital notarization processes. |
| Applies when: Ron | ||
| Remote notarization recording retentionClarified | Not stated | Removes the obligation for participants to retain video records of online notarial acts. |
| Applies when: Ron | ||
| Borrower identity verification standardsClarified | Not stated | Revises threshold requirements for validating borrower identity during remote notarizations. |
| Applies when: Ron | ||
| IRS tax installment repayment treatmentClarified | Not stated | Authorizes the inclusion of formal IRS installment plans when calculating monthly liabilities. |
What to do
AWACS interpretation · not source languageWhat to review: Review the revised remote online notarization guidelines alongside the option to include formal IRS tax installment agreements in monthly liability calculations.
QC implications
- Quality control should evaluate remote online notarization files to ensure adherence to updated MISMO standards and modified borrower identity verification criteria.
- Quality control should sample loan files involving IRS tax installment agreements to verify proper incorporation into debt calculations.
Source and record
Version 1 · archivedChecks
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, adjusted automatically
Anything marked required is backed by the requirement language and dates in the source.
- An independent check could not confirm which way a change moves a rule; it is not marked as required
In scope: Passed
The document is about residential mortgage lending.
Format and labels: Passed, adjusted automatically
The record follows the AWACS format and uses its standard labels.
- A detail the source does not support was removed or adjusted
Source
- Selling Announcement MPF Announcement 2026-31 (official) ↗ (opens in a new tab)
- Archived copy, SHA-256 7f440b476474…
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