MPF Announcement 2024-31

MPF Servicing – MI Cancellation Notice Updates  

Effective Date: Immediately (unless otherwise noted within)

The MPF Program recently announced updates to the MI cancellation process. For full understanding of these changes, Servicers may refer to MPF Announcement 2024-23.

As a reminder, effective immediately, all MI cancellation notices or requests must be submitted through eMAQCS®plus using the MI Cancellation Notice (Form SG343).

Any MI notices or requests submitted to the MPF Provider via email (using the MPFServicing mailbox) will not be processed and Servicers will be instructed to submit the Form SG343 via eMAQCSplus.

 Access to eMAQCSplus

Servicers who do not have access to eMAQCSplus, may request credentials by visiting the eMAQCSplus Credentials | FHLBMPF, and choosing access to the MPF Servicing (MI Cancellations). PFIs must have their PFI number available when submitting a request for credentials, as it will be needed to gain access.

Training

Visit On-Demand Webinars for a tutorial on the submission process in eMAQCSplus.

Form SG343 & Guide Updates

The Form SG343 has been updated to reflect the new process.

For additional information, please refer to 4.7.2.6 Other Servicer Obligations of the MPF Traditional Servicing Guide and Section 4.6 Mortgage/Guaranty Insurance of the MPF Xtra Servicing Guide.