MPF Marketing Bulletin 2021-09
Initial Certification Reminder
Effective Date: Immediately
We would like to call attention to the importance of delivering collateral files to the MPF Program Custodian after any loan is funded under any MPF Product.
Required documentation must be sent to the MPF Program Custodian for review, certification, and safekeeping within seven (7) calendar days of the funding date by the MPF Bank.
Use the Initial Certification Review Checklists below to ensure all documents in the collateral file are executed and delivered to the MPF Program Custodian:
Loans with cited exceptions must be resolved with the Custodian as soon as possible in order to receive loan certification. The MPF Custody team will inform you of outstanding exceptions and provide guidance on how to resolve exceptions.
For any outstanding items not received or exceptions that remain unresolved after 7 days, a fee is assessed to your institution. Inability to obtain Initial Certification may result in a request for loan repurchase.
For questions or assistance on the Initial Certification process, please contact mpfcustody@fhlbc.com or our MPF Service Center at 877-345-2673.
- References:
- MPF Marketing Bulletin 2021-09
