MPF Xtra Loans Underwritten with Loan Product Advisor Will No Longer Be Eligible
Effective Date: July 31, 2021
Fannie Mae will be retiring the variance that enabled PFIs to utilize Freddie Mac’s Loan Product Advisor (LPA) to underwrite loans for MPF Xtra. Effective July 31, 2021, Fannie Mae will no longer accept MPF Xtra loans underwritten with LPA.
In order to meet Fannie Mae’s effective date of July 31, 2021, PFIs are encouraged to work with MPF Service Center to ensure loans that are underwritten using LPA are delivered to the MPF Program by July 26, 2021.
The Xtra Selling Guide will be updated at a later date to reflect this change.
PFIs may continue to utilize LPA for loans delivered under the MPF Traditional product.
Visit the MPF Website to review and register for upcoming complimentary MPF Webinars.
- MPF Announcement- 2021-47