AWACSMortgage compliance intelligence from Flightline

FHLB Chicago MPF · MPF Announcement 2026-40 · Published

MPF Traditional Redesigned Uniform Residential Appraisal Report Implementation

Originators delivering MPF Traditional loans must ensure appraisals are completed using the redesigned URAR starting November 2, 2026. Lenders must maintain existing appraisal forms for evaluations completed prior to that implementation date.

Action requiredEffective Nov 2, 2026All checks passedRead the announcement ↗ (opens in a new tab)

Loan impact

Summarized from the announcement · verified

Applies to: Applies to all MPF Traditional loans with appraisal reports completed on or after November 2, 2026.

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
Report formatGuide Section 7.3
Affected documents
Uniform Residential Appraisal Report
Effective
Nov 2, 2026
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 7.3
RequirementPreviouslyNow
Mandatory transition to redesigned URAR formsChangedRequiredPreviously: Lenders use legacy appraisal reporting documents specified for earlier valuation dates.Lenders must provide appraisals completed on the redesigned URAR and related forms.

What to do

AWACS interpretation · not source language

What to review: Review the mandatory requirement to implement the redesigned URAR for MPF Traditional loan appraisals completed on or after November 2, 2026.

Appraisal

Ensure all appraisal reports completed on or after November 2, 2026, utilize the redesigned URAR and related forms.

Underwriting

Verify that appraisals for MPF Traditional loans completed on or after November 2, 2026, are submitted on the redesigned URAR.

QC implications

  • Sample post-effective-date loan files to verify that appraisals completed on or after November 2, 2026, utilize the redesigned URAR rather than legacy forms.

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.