MPF Announcement 2024-74

MPF Traditional HLC Review Property Valuation Update

Effective Date: Immediately (unless otherwise noted within)

The MPF Traditional Servicing Guide is being updated to permit various retrospective property valuations in High Level Concern (HLC) reviews that confirm the accuracy of the appraised value determined at origination process, when field review appraisals were previously required. 

See MPF Traditional Servicing Guide Sections 8.8.1 HLC Determination; 8.8.2 HLC Review Exceptions, 8.8.3 HLC Property Valuation and 11.9.2 Calculating Realized Losses or Gains.

In addition, Form SG332 Calculation of Related Loss or Gain and Form SG337 HLC mortgage Notification have been updated.

If you have any questions, please contact the MPF Service Center via email (MPF-Help@fhlbc.com) or phone (877-345-2673).