MPF Announcement 2022-58

MPF Xtra Delinquent Reporting Update

Effective Date: Immediately (unless otherwise noted)

The MPF Program recently published MPF Announcement 2022-50, communicating an eMAQCS®plus reporting enhancement.

Effective immediately, Servicers of MPF Xtra mortgage loans will receive automated email notifications from eMAQCSplus 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.

Servicers must submit the additional reporting information to the MPF Provider by uploading the file to eMAQCSplus within 5 business days.

The MPF Xtra Servicing Guide has been updated to incorporate this additional reporting requirement, for additional information see Section 8.2 Delinquency Reporting.

Servicers are encouraged to view the MPF Xtra Product: Default Servicing Additional Data Requests On-Demand Webinar which outlines the reporting enhancement and the steps that need to be taken when a request for more information is received.

As a reminder, for assistance with questions related to this enhancement, Exhibit B submissions, eMAQCSplus, 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).