MPF Announcement 2024-15

MPF Program eNote/eMortgage Update

Effective Date: Immediately (unless otherwise noted within)

The MPF Program is updating Exhibit DD - Delivering and Servicing eNote/eMortgage to clarify PFIs and Servicers are responsible for,  and will reimburse the MPF Provider or the MPF Bank, any damages, costs, fee and other expenses incurred by MPF Provider or MPF Bank as a result of PFI’s or Servicer’s failure to meet any of the requirements of Exhibit DD, the MPF Guides, or MERS requirements.

 As a reminder, PFIs and Servicers must be specifically approved to sell and/or service MPF Program loans originated as eNote/eMortgages.  PFIs and Servicers must contact their MPF Bank to ensure compliance with MPF Program and MPF Bank specific approval requirements, and to begin the approval process.