Clarifications to the MPF Program Guide
Effective Date: Immediately (Unless Otherwise Noted)
The following updates and clarifications have been made to the MPF Program Guide:
Updated Chapter 6.13 to clarify that PFIs and Servicers should address communications from a Borrowers’ successor in interest in the same manner as a Borrower.
Compliance with Laws
Updated Chapter 7 to clarify PFIs and Servicers responsibilities to ensure compliance with all Applicable Laws during the life of the mortgage loan.
Points and Fees
Updated Chapter 7.6.1 to clarify that loans that are a part of a larger transaction that is structured in a manner that is intended to circumvent the requirements of HOEPA and Section 32 of Regulation Z are ineligible for delivery into the MPF Program.
- MPF Announcement - 2019-46