MPF Announcement 2019-42

The MPF Program Clarifies Seasoning Requirements for VA Refinance Loans Delivered Under the MPF Government MBS Product

Effective Date: August 1, 2019

On August 2, 2019 the MPF Program published MPF Announcement 2019-40 which advised that the seasoning requirements for VA refinance loans delivered under the MPF Government MBS Product had been updated pursuant to Ginnie Mae APM 19-05.

The MPF Program is issuing this announcement to correct and add clarification to Chapter 2.5 (page 9) of the MPF Government MBS Selling Guide to reflect that effective August 1, 2019 refinance loans guaranteed by the VA will be eligible for delivery under the MPF Government MBS product only if they meet the following seasoning requirements:

The note date of the refinance loan must be on or after the later of:

• the date that is 210 days after the first payment due date of the loan being refinanced; and
• the date on which the borrower has made at least six monthly payments on the loan being refinanced.