MPF Announcement 2024-50
MPF Government MBS – Servicing Quarterly Review Process
Effective Date: Immediately (unless otherwise noted)
As a reminder, to ensure compliance with Investor requirements, Servicers of MPF Government MBS mortgage loans are subject to a Quality Control Servicing Quarterly Review Process.
Servicers with mortgage loans chosen for a review will receive an email instructing them to log into a new eMAQCS® Plus QC Servicing Queue, where Servicers will find:
- a current quarter’s list of mortgage loans selected for review,
- the type of review the mortgage loan has been selected for, which include:
- PITI – a Principal & Interest and Taxes & Insurance review, or
- DLQ – Delinquent loan review (which includes all different statuses such as Bankruptcy, Foreclosure Collections, Claims, etc).
- which month in the quarter is being reviewed, and
- the due date for documents to be submitted.
The email to the Servicer will also include guidance on the new naming convention for document uploads using a new Loan Identifier ID #. The new Loan Identifier ID # allows a loan to be chosen for different review types and allows the loan to be selected for multiple months in the quarter.
Additional eMAQCSplus enhancements to support the review process:
• and the required checklists will also be available via eMAQCSplus QC Servicing – PFI Queue.
For additional information, see section 1.8 Servicing Standards of the MPF Government MBS Servicing Guide.
Process.
enhancements will be communicated to Servicers as soon as they become available.
assistance:
- References:
- MPF Announcement 2024-50
