AWACSMortgage compliance intelligence from Flightline

FHLB Chicago MPF · Investor Announcement MPF Announcement 2026-60 · Published

Desktop Underwriter Mandate and Project Review Alignment for RefiNow Mortgages

Originators delivering RefiNow mortgages under the MPF Xtra program must secure an Approve/Eligible decision from Desktop Underwriter rather than using manual underwriting. Additionally, project review waiver standards for RefiNow loans align with standard Selling Guide terms.

Action requiredEffective Sep 25, 2026Checks passed· adjusted automaticallyRead the announcement ↗ (opens in a new tab)

Loan impact

Summarized from the announcement · verified

Applies to: Applies to RefiNow loans delivered under the MPF Xtra product.

Applies when all of these are true
  • ANDMpf loan
  • ANDProduct is RefiNow
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 areas
Recommendation; Condo projects
Affected documents
Desktop Underwriter findings report
Effective
Sep 25, 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
RequirementPreviouslyNow
Automated underwriting decision requirement for RefiNow deliveriesTightenedRequiredNot statedParticipating lenders must deliver RefiNow loans with a Desktop Underwriter Approve/Eligible recommendation.
Project review waiver standards for RefiNow loansRelaxedNot statedProject review waiver criteria for RefiNow mortgages align with standard Selling Guide policy.

Each change applies when all the loan-impact conditions above are true.

What to do

AWACS interpretation · not source language

What to review: Review RefiNow underwriting procedures immediately to ensure all deliveries under MPF Xtra obtain an Approve/Eligible recommendation from Desktop Underwriter, and note the alignment of project review waivers with standard Selling Guide terms.

Underwriting

Ensure all RefiNow loans delivered under the MPF Xtra program receive an Approve/Eligible recommendation from Desktop Underwriter immediately.

Secondary

Deliver RefiNow loans under the MPF Xtra program only when supported by a Desktop Underwriter Approve/Eligible recommendation immediately.

QC implications

  • Sample RefiNow loan files to confirm the presence of a Desktop Underwriter Approve/Eligible recommendation rather than manual underwriting.
  • Verify that any project review waivers applied to RefiNow loans follow standard Selling Guide requirements.

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, adjusted automatically

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

    • A detail the source does not support was removed or adjusted

  • 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.