MPF Announcement 2020-25

MPF Servicing Updates

Effective Date: Immediately

On, January 23, 2020, the MPF Marketing Bulletin 2020-01, was published notifying Servicers that oversight of default reporting would be transitioning to the MPF Provider along with certain general servicing related functions.

The MPF Guides have been updated to reflect that PFIs/Servicers are now required to contact the MPF Provider for the following matters:

• Rescission Notices

• Servicemember’s Civil Relief Act Reporting

• Submitting Reimbursement of Servicing Expenses

• Property Insurance Losses

• Uninsured Disaster or Vandalism Losses

• Reporting Mortgage Insurance Cancellation or Termination

• Mortgage Insurance Claims

• Title Insurance Claims

• Assumptions and Unauthorized Transfers

• Partial Property Releases

• Bankruptcy Reporting

• Delinquent Loan Servicing (Loss Mitigation Options, Loan Modifications)

• Major Disaster Assistance

• Additional guidance has been incorporated with this update, to ensure timely responses are being provided when PFIs/Servicers submit requests to the MPF Provider.

Servicers can submit questions/requests regarding default loans to the MPF Provider via email at:MPFdefaultservicing@fhlbc.com.

Servicers can submit questions/requests related to any of the general servicing items listed above to the MPF Provider via email at MPFServicing@fhlbc.com.

Contacting the MPF Provider can also be done so via the MPF Service Center by calling 877-FHLB-MPF or via email at MPF-Help@fhlbc.com.

As a reminder, effective immediately, eMAQCS® Plus will be the only acceptable method for delivering Monthly Delinquent Reports (Exhibit B). Please note, eMAQCS Plus will reject any Delinquent Mortgage Reports (Exhibit B) that does not meet the format requirements as provided in the applicable MPF Servicing Guide. For formatting requirements, please reference the Exhibit B: Delinquent Mortgage Report - Excel Template posted on the MPF Website.

This change only applies to the Delinquent Mortgage Report (Exhibit B), all other regular investor reporting must continue to be reported to the Master Servicer (Wells Fargo).

If you haven’t obtained your credentials for eMAQS Plus yet, please ensure to request access via the MPF Website or by clicking one of the following:

• Click HERE to request eMAQCS Plus system login credentials.

• Click HERE to register to receive eMAQCS Plus email notifications.

If you have any questions regarding the transition please call the MPF Service Center.