MPF Announcement 2023-103

MPF Xtra – Request for Reimbursement Reminder

Effective Date: Immediately (unless otherwise noted within)

Servicers are reminded that pursuant to the Fannie Mae Servicing Guide, Servicers will not be automatically reimbursed for expenses advanced related to a payment deferral or Fannie Mae Flex Modification.

Servicers seeking reimbursement for expenses advanced must submit Fannie Mae Form 571: Cash Disbursement Request via eMAQCSPlus® and must include any documentation necessary to support the request for reimbursement.

The request for reimbursements for expenses advanced must be submitted within 60 days of the completion of the payment deferral or flex modification.

When completing Flex Modifications, PFIs must include the actual amounts advanced instead of the escrow portion of the payments missed in the capitalized balance. Documentation to support these amounts will be required with submission of the Flex Modification request.

To ensure requests are submitted within this time frame, Servicers are encouraged to submit requests for reimbursements as soon as they receive confirmation from the MPF Provider of a completed payment deferral or flex modification.

For assistance with questions related to default related reimbursements, 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).