MPF Announcement 2025-24

MPF Traditional Servicing – Determining Loan Modification Terms

Effective Date: Immediately (unless otherwise noted within)

As previously communicated in MPF Announcement 2025-14, the MPF Program is updating the steps for determining the terms for a loan modification for MPF Traditional Conventional mortgage loans.

To assist Servicers with the loan modification changes, an updated Form SG357: Permanent Loan Modification Worksheet reflecting the updated steps has been published.

The updated form has been labeled Form SG357: Permanent Loan Modification Worksheet, Effective April 1, 2025.

As a reminder, Servicers may immediately start determining the borrower’s new modified mortgage loan terms according to the updated requirements but are required to implement the changes no later than April 1, 2025.

The policy changes communicated in MPF Announcement 2025-14 have been incorporated into the MPF Traditional Servicing Guide. For additional information refer to section 9.2.4.6.2   Determining New Modified Loan Terms.

For questions or assistance, please contact the MPF Service Center by using one of the following options:

• MPF Customer Service Portal
  
• Email: MPF-Help@fhlbc.com
• Phone: (877) 345-2673