MPF Announcement 2025-54

MPF Xtra Selling Updates – FNMA SEL-2025-05

Fannie Mae published SEL-2025-05 which covers the below referenced topics that are applicable to mortgage loans sold under the MPF Xtra product:

Review Requirements for Condo Eligibility:

• Updated project standards policies for properties that are terminating or involved in insolvency proceedings.

Effective: Originators are encouraged to incorporate these policy changes into their project review process immediately but must comply with these changes for all new loan applications dated on or after September 30, 2025.

Compliance with Laws:

• Clarified reporting requirements related to anti-money laundering for non-Bank Secrecy Act regulated entities.

Effective: Originators and Servicers are encouraged to take advantage of this policy clarification immediately but must do so by October 2, 2025.

Desktop Underwriter Loan Casefiles Archival Policy and Resubmission:

• Extended the DU® loan casefile archival period to 540 days and the resubmission timeframe to 18 months for single-close construction-to-permanent transactions.

Effective: Originators may take advantage of the resubmission policy change immediately. The update to the archival policy will be made on the weekend of July 19, 2025. 

Lender Incentives:

• Removed the maximum dollar limit for lender incentives. Effective: Originators are encouraged to implement these changes immediately. 

Effective: Originators are encouraged to incorporate these policy changes into their project review process immediately but must comply with these changes for all new loan applications dated on or after September 30, 2025.

Miscellaneous Updates:

• Remote Notarization Indicator:
  •  Updated to align with ULDD Phase 5 Specification Release.
• DU Version 12.0 and Selling Guide alignment:
  •  Align Guide text with updates previously communicated in the Desktop Underwriter/Desktop Originator Release Notes.
• List of approved mortgage insurers and approved mortgage insurance forms:
  •  Incorporated changes to these third-party companies and related forms.

Other topics mentioned in the Fannie Mae announcement do not apply to MPF Xtra.

To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Selling Guide chapters, forms, or exhibits noted in the announcements.

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