MPF Announcement 2024-63

The MPF Program Major Disaster Policy Reminder

Effective Date: Immediately

Due to the devastating impact of hurricanes and other natural disasters, the MPF Program would like to remind PFIs and Servicers that the MPF Program policies related to delivery and servicing of mortgage loans affected by major disasters are included in the product specific MPF Selling/ Servicing Guides.

For MPF Program natural disaster guidance, see:

MPF Program Guide:

• Chapter 9 - MPF Program Major Disaster Related Policy

MPF Traditional Selling Guide:

• Section 2.6.2.1.1 Limited Cash-Out Refinance for Disaster Impacted Properties
• Section 2.8.5 Properties Impacted By Major Disaster
• Section 4.2.1 Automated Underwriting Systems (AUS)
• Section 5.1.3 Age of Documents
• Section 7.15. Properties Located in Major Declared Disaster Areas

MPF Xtra Selling Guide:

• Section 2.3.3 Eligible Transaction Types
• Chapter 6 Property Requirements

MPF Government MBS Selling Guide:

• Section 2.1.4 Properties Impacted by a Major Disaster

MPF Traditional Servicing Guide:

• Section 4.6.5 Major Disasters
• Section 4.6.6 Uninsured Disaster or Vandalism Losses
• Section 8.3.5 Property Inspections
• Section 8.5 Major Disaster Assistance
• Section 9.1.4 Borrowers Impacted by a Major Disaster Event
  

MPF Xtra Servicing Guide:

• Section 4.5 Property Loss Events and Insurance Loss Settlement
• Section 8.3 Loss Mitigation
• Section 8.5 Natural Disasters

MPF Government MBS Servicing Guide:

• Section 4.6.5 Major Disasters
• Section 4.6.6 Uninsured Disaster or Vandalism Losses
• Section 8.2 Delinquent Government MBS Loans
• Section 8.7 Major Disaster Assistance
  

In addition, PFIs and Servicers originating, delivering or servicing:

• MPF Traditional Government loans must follow the disaster relief policies and guidance issued by the applicable Government Agencies.
• MPF Government MBS loans must follow the disaster relief policies and guidance issued by the applicable Government Agencies and Ginnie Mae.
• MPF Xtra loans must follow the disaster relief policies and guidance issued by Fannie Mae.