MPF Direct Updates
Effective Date: Immediately
Over the last several months, the MPF Direct Investor, Redwood Residential Acquisition Corp (Redwood), has issued several announcements providing guidance to PFIs delivering MPF Direct loans in complying with the Home Mortgage Disclosure Act (HMDA), which took effect January 1, 2018.
Redwood has issued an additional announcement regarding new input fields in the MPF Direct Portal that are related to the HMDA 2018 changes. Please read the Redwood announcement on the following page for additional information.
Change Summary for MPF Direct Portal
New input fields are available in the Redwood Conduit Portal related to the HMDA 2018 changes. Additional information regarding HMDA 2018 Portal requirements will be communicated in future Redwood HMDA Bulletins.
Edit Loan Details
- UniversalLoan Identifier (ULI) – The ULI is now required for all loans submitted for Exception Review or Purchase Review ≥ 01/01/2018 with an Interview Date (Application Taken Date) ≥ 01/01/2018.
- 2018 HMDA Government Monitoring Demographics with Yes/No checkboxes has replaced the ‘HMDA Action Date’. This must be completed prior to submitting for Exception or Purchase Review.
2018 HMDA Government Monitoring Demographics ‘No’ will display the 2017 demographics
2018 HMDA Government Monitoring Demographics ‘Yes’ will display the 2018 demographics+
- MPF Announcement 2018-16