AWACSMortgage compliance intelligence from Flightline

FHLB Chicago MPF · Program Announcement MPF Announcement 2026-45 · Published

MPF Traditional Disaster Foreclosure Notice and MPF Xtra Servicing Guide Updates

Servicers of MPF Traditional loans must provide disaster impact notices within two business days when a property currently in foreclosure is affected. Additionally, MPF Xtra servicing guidelines have been updated to incorporate existing procedures for reporting payoff errors after cycle cutoffs.

Action requiredIn effect nowAll checks passedRead the announcement ↗ (opens in a new tab)

Loan impact

Summarized from the announcement · verified

Applies to: Loans serviced under MPF Traditional that are actively in foreclosure when impacted by a disaster event.

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
Affected area
Foreclosure
Affected documents
Servicing guides
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
RequirementPreviouslyNow
Disaster notification deadline for foreclosure loansTightenedRequiredNot statedServicers must report disaster damage on properties undergoing foreclosure within two business days of identifying the impact.
Applies when: Product is MPF Traditional
Incorporation of post-cycle payoff error reportingClarifiedNot statedServicing guidelines incorporate previously announced instructions for correcting payoff errors identified after a reporting cycle ends.
Applies when: Product is MPF Xtra

What to do

AWACS interpretation · not source language

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.

Servicing

Report disaster damage on MPF Traditional properties currently in foreclosure within two business days of identifying the impact.

QC implications

  • Sample disaster-affected MPF Traditional loans in active foreclosure to verify disaster notifications were sent within two business days of identifying damage.

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.