MPF Announcement 2024-17

MPF Traditional – Underwriting the Borrower Clarifications 

Effective Date: Immediately (unless otherwise noted within)

Updated the MPF Traditional Selling Guide by:

•  Removed the expired Chapter 5. Underwriting the Borrower (Effective for Mortgage Loan Applications prior to July 1, 2023). 
• Revised introduction paragraphs in Chapter 5. Underwriting the Borrower, to clarify PFIs obligation of using verification standards pursuant to Regulation Z when manually underwriting Borrowers.

 For additional information refer to MPF Traditional Selling Guide – Chapter 5. Underwriting the Borrower.