MPF Announcement 2023-58

MPF Program Custodian Required

Effective Date: Immediately (unless otherwise noted)

MPF Guides are being updated to reflect the new requirement that PFIs and Servicers must use the MPF Program Custodians and will no longer be able to obtain approval from their MPF Bank/MPF Provider to use a third party custodian or act as their own custodian.  See:

• MPF Program Guide: Chapter 1, 6.9.1 Vendor Management, 6.9.3Document Custodians
• MPF Traditional Selling Guide: Chapter 15, 15.3 Initial Certification Review,
• MPF Servicing Guide: 13.3.7 Custody Documents, and
• MPF Custody Manual and Exhibits: Retired