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MPF Announcement 2025-85
MPF Servicing – Insurance Loss Draft Process Updates
In MPF Announcement 2025-60, the MPF Program announced changes to the submission of the Form SG342: Property Insurance Loss Draft Notification.
The MPF Program is pleased to announce that the Form SG342 is now accessible in eMAQCSplus.
As a reminder, in eMAQCSplus, Servicers will have access to the following queues:
- Initial Request (Active Queue) – Servicer have access to track the progress of their initial submission.
- Subsequent Request (Tracking Queue) – Servicers can submit and track requests for subsequent disbursements.
Effective Date
Servicers are encouraged to begin utilizing the Form SG342 in eMAQCSplus immediately for new all claims but are required to do so for all new claims submitted on or after
December 1, 2025.
Form SG342 Updates & Guide Clarifications
The Form SG342 has been updated to reflect the new submission process. Servicers must continue to submit Form SG342 and supporting documentation as required in the applicable MPF Servicing Guide.
In efforts to align the Guide with the current approval process for mortgage loans that are current or less than 31 days delinquent at the time of the loss event and the insurance proceeds are greater than $40,000, the Guide was clarified to specify that the Servicer are authorized to release cumulative disbursements up to the greater of:
- $40,000;
- 33% of the Insurance Proceeds; or
- the amount by which the release funds exceed the sum of the UPB, accrued interest, and advances on the Mortgage Loan.
Once the Servicer has disbursed up to the greater of the amounts listed above, the Servicer is required to obtain written approval prior to disbursing any additional funds by submitting Form SG342.
For a better understanding of the Property Loss Events and Insurance Loss Settlement requirements, see Chapter 4 – Insurance Requirements of the applicable MPF Product Guide.
Training
To access the On-Demand Webinar: Processing Hazard Insurance Loss Claims in eMAQCS®plus for a walk through on the new submission process.
Access to eMAQCSplus
Servicers who do not have access to eMAQCSplus please contact your institution’s eMPF Security Administrator who will be able to add or update this information via the eMPF website. If your institution does not have a designated eMPF Security Administrator, you will need to contact your Federal Home Loan Bank representative to complete a Delegation of Authority Supplemental form.
For more information, please visit MPF Technology | FHLBMPF.
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
- References:
- MPF Announcement 2025-85
