MPF Announcement 2022-50

MPF Xtra^® Delinquent Reporting Update

Effective Date: November 21, 2022

To ensure that loss mitigation efforts for MPF Xtra® mortgage loans are processed in accordance to the Investor’s required time frames and guidelines, the MPF® Program is implementing an eMAQCS®plus reporting enhancement.

With this enhancement, effective, November 21, 2022, Servicers of MPF Xtra mortgage loans will receive automated email notifications from eMAQCS®plus requesting additional information for mortgage loans that are reported as 30+ days delinquent reporting Action Codes 0 (No Action), 12 (Relief Provision), or 20 (Loss Mitigation) on their monthly Exhibit B: Delinquent Mortgage & Bankruptcy Status Report.

The automated email will be sent to the Servicer’s email address registered in eMAQCS®plus and will include an attached Excel file that will include basic loan information to help identify the mortgage loan (such as MPF Loan Number, PFI Loan Number, Servicer Number, Cycle Date) and requesting the following additional data points:

• Last outbound contact date
• Quality Right Party Contact (QRPC) (Y/N)
• Borrower solicitation package sent date – if QRPC is achieved
• Borrower solicitation letter sent date – If QRPC is not achieved
• Borrower Response Package Received Date
• Is Borrower Engaged (Y/N)
• Temporary/Permanent Hardship
• Breach letter sent date
• Refer to Foreclosure date
• Property inspection date
• Property Inspection Results
• Any additional Servicer Comments

Servicers must complete the Excel file and submit the response to the MPF Provider by uploading the file to eMAQCS®plus within 5 business days. If Servicers do not respond within 5 business days, Servicers will receive a second automated email reminder.

The MPF Xtra Servicing Guide and any applicable exhibits will be updated at a later date to include this additional reporting requirement.

Training

MPF National Education hosted a webinar on October 27, 2022 at 1PM CT, reviewing information on this new process and discussed steps that need to be taken when a request for more information is received. An On-Demand Webinar is available.

As a reminder, for assistance with questions related to this enhancement, Exhibit B submissions, eMAQCS®plus, and Default Management, Servicers should contact the MPF Service Center at 877-FHLB-MPF (877-345-2673) or MPF-Help@fhlbc.com, and utilize the call option for Default Management related questions (option 3).