MPF Traditional Final Certification Clarification
Effective Date: Immediately (unless otherwise noted)
Clarified the MPF Traditional Selling Guide to reflect that while a government mortgage loan is pending receipt of the loan guaranty or mortgage insurance certificate from the applicable Government Agency, the PFI is responsible for ensuring the mortgage loan continues to meet the applicable Government Agency requirements and assumes all risk if any losses that occur that would deem the government mortgage loan ineligible.
See MPF Traditional Selling Guide Section 15.4 Final Certification.
- MPF Announcement 2023-41