MPF Announcement 2023-43

MPF Government MBS Selling Guide Updates

Effective Date: Immediately (unless otherwise noted)

The MPF Government MBS Selling Guide has been updated to incorporate guidance regarding mortgage loans that are modified prior to delivery.

As a reminder, mortgage loans with material modifications, such as changes to the original loan amount, interest rate, final maturity, or product structure, are not eligible for delivery.

Mortgage loans that are re-amortized due the application of a principal curtailment received from the Borrower are eligible for delivery provided the re-amortization was completed in accordance with the Ginnie Mae Guides and meets the applicable Government Agency requirements.

PFIs must include the fully executed re-amortization documentation at the time of delivery to the MPF Program.

The MPF Program has published an updated Exhibit S-M: MPF Government MBS Data Validation Checklists to include the requirement for fully executed re-amortization documentation, if applicable.