MPF Traditional Borrower Credit Score Clarifications

Applies to: Clarification applies to MPF Traditional mortgages underwritten manually or with an automated underwriting system.

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

Score

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 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.

QC implications

• Quality control should check that MPF Traditional loans evaluated manually or via an automated underwriting system meet the 620 minimum credit score requirement unless an explicit guide exception applies.