MPF Xtra: Investment Properties and Second Homes Eligible for Delivery
Effective Date: Immediately
The MPF Program previously communicated, see MPF Announcement 2021-45, the temporary ineligibility of Investment Properties (Non-Owner Occupied) and Second Homes under the MPF Xtra product.
Effective immediately, the MPF Program will again accept Investment Properties and Second Homes under the MPF Xtra product. PFIs are able to execute MPF Xtra Investment Property and Second Home Delivery Commitments (DCs) and submit requests for funding.
Also, the previously announced, see MPF Announcement 2021-27, target of 7% of delivered UPB by PFI on the acquisition of mortgage loans secured by investment properties and second homes, no longer applies.
The MPF Xtra Selling Guide has been updated accordingly to reflect the eligibility investment properties and second homes and removal of the target.
If you have any questions, please contact the MPF Service Center via email (MPF-Help@fhlbc.com) or phone (877-345-2673).
- MPF Announcement 2021-65