MPF Program Weekly Recap - COVID 19 Communications
Effective Date: Immediately
The MPF Program is actively monitoring reports about the potential impact of COVID-19 (coronavirus) on borrowers, PFIs and Servicers. We have communicated various investor updates and temporary policies via MPF Announcements and e-alerts to ensure our PFIs and Servicers receive the most up to date information and enable you to better assist borrowers impacted by COVID-19. This bulletin will provide a summary of the MPF Announcements and e-alerts that the MPF Program published in regards to COVID-19 during the week of March 30, 2020 through April 3, 2020.
- MPF Announcement 2020-14 (April 1, 2020) – communicated temporary policies related to appraisals for MPF Traditional Conventional loans. The MPF Program will accept a desktop appraisal or an exterior-only inspection appraisal in lieu of the interior and exterior inspection appraisal (i.e., traditional appraisal) currently required under MPF Traditional Selling Guide, when an interior inspection is not feasible because of COVID-19 concerns.
As a reminder:
For MPF Government loans and MPF Government MBS loans PFIs and Servicers should follow policies and guidance issued by the applicable Government Agencies.
For MPF Xtra loans PFIs and Servicers should follow policies and guidance issued by Fannie Mae.
For MPF Direct PFIs and Servicers should follow policies and guidance issued by the product’s investor, Redwood Trust.
The MPF Program and its staff are here to serve our PFIs, and we wish you health and safety in these challenging times. Please contact the MPF Service Center with any questions or concerns (877-FHLB-MPF).
Visit the MPF Website to review and register for upcoming complimentary MPF Webinars.
- MPF Marketing Bulletin 2020-05