MPF Announcement 2024-72

MPF Program Announces Kick-Off of Annual Eligibility Certification and OG1 Form

Effective Date: January 1, 2025

The MPF Program would like to remind PFIs and Servicers that the Annual Eligibility Certification (AEC) process will begin soon.

 The MPF Program is no longer requiring PFIs and Servicers to submit Form OG2.

 Form OG1

The OG1 Form for the 2024 certification will be available on the eMPF^® website as of January 1, 2025, and PFIs and Servicers must submit their 2024 OG1 Form with any supporting documentation by January 31, 2025.

PFIs/Servicers should note the Form OG1 (Annual Eligibility Certification) will not be pre-populated with the prior year’s submitted responses. The only information that will be pre-populated in the Form is the PFIs/Servicers contact information in the top portion the Form.

The Form must be submitted electronically via the eMPF website by an employee of the PFI or Servicer who is listed on the MPF Resolution, or has been delegated authority to Sign PFI Agreements per the Delegation of Authority (DOA) on file.

PFIs or Servicers deemed to be noncompliant with MPF Program requirements, including the requirement to timely submit the OG1 Form, may be subject to the following:

• Disqualification;
• Suspension; and/or
• Compensatory Fees

Updates to AEC Forms

• PFIs and Servicers may access their prior year AEC submission via eMPF:

• All questions on the OG1 are required and must be completed in order to submit the Form. To avoid delays, PFIs must ensure all fields are completed/checked.

• Servicers are required to list all sub-servicers, affiliate servicers or other servicers on the OG1.

 Available Resources

PFIs may access instructions for completing the OG1 Form on the MPF Website or by clicking one of the following:

• Form OG1: Instructions on Completing the OG1
• MPF Annual Eligibility Job Aid

To provide assistance enclosed is additional information regarding AEC Process.

 Webinars

The MPF Program is offering a webinar to review the online completion process for the OG1 Form. Instructions for completing the Forms, review of content and a demonstration of the upload functionality will be provided. The webinar is recommended for the staff and managers responsible for completion of the certifications contained in the OG1 Form.

The webinar will be held on the following dates:

• December 18, 2024 @ 1PM CT
• January 7, 2025 @ 1PM CT

To register for the webinar, please click here.  

AEC Additional Information

The following information provides additional assistance to PFIs completing their AEC.

Points of Interest

 The OG1 Form and supporting documentation are completed and submitted electronically through the eMPF website.

• Information for the Form OG1 is being collected based on 2024 activity. 
• After you submit the completed Form with the supporting documentation, your FHLBank will review your submission and will either approve or reject. Typically, a Form is rejected if the required supporting documentation is missing.

 Authorized Signers

 The AEC must be completed and submitted on behalf of a PFI/Servicer by an individual who is:

• An officer of the PFI/Servicer, authorized to execute agreements, and amendments under the MPF Resolution, or
• An employee of the PFI/Servicer who has been delegated the authority as is typically granted to an officer authorized to execute agreements under the MPF Resolution.

 eMPF Website Access

 The person completing and submitting the AEC will need access to the eMPF website. Follow one of the two options if access to the eMPF website is needed: 

• Contact your local FHLBank to obtain a Delegation of Authority Supplemental form. The form will need to be signed by individuals on your MPF Resolution to authorize the additional person. This process may take a few business days to complete.
• Electronic Delegation of Authority using your institution’s eMPF Security Administrator within the eMPF website.

 Supporting Documentation

 To help prepare for the upcoming AEC process we have outlined some supporting documentation that may be needed:

• Most recent monthly QC Summary Report provided to senior management for both pre-closing and post-closing reviews, including detailed information on the most severe defects, trend analysis, and target defect rate compared to actual defect rate (post-closing). Including the corrective action.
• QC Policy – if updates have been made to the QC policy in the last 12 months.
• Any exam or audit of your mortgage operations with any of the following, including origination or servicing related non-compliance or deficiency findings and summary of how the findings were addressed and corrected:
  • State or Federal Regulator
  • Government Agency (including VA, HUD, FHA, or RHS)
  • Fannie Mae and Freddie Mac
  • Other mortgage loan Investors
• For any ‘No’ responses in Section A of the Form OG1, provide a document outlining the reason for the ‘No’ response and if applicable, include supporting documentation.
• Any other document or information specifically requested by your FHLBank.