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MPF Announcement 2025-101
MPF Program Clarification of PFI Hiring Practices and OFAC Obligations
Effective Date: Immediately (unless otherwise noted within)
Updates have been made to the MPF Program Guide clarifying PFIs’ obligation to follow a written procedure for checking all vendors, contractors, and employees, including managers, who will be involved in the origination or servicing of Mortgage Loans (including application through Closing and Servicing) are not on the HUD Limited Denial of Participation (LDP) List, the U.S. General Services Administration (GSA) Excluded Party List (available through the GSA’s System for Award Management website), the FHFA’s Suspended Counterparty List (SCP), or any other such lists.
Such procedure must include processes for verification at hiring as well as periodic verification of such individual, and must ensure any individual appearing on such lists are prohibited from managing or performing origination or servicing functions on loans sold to the MPF Program.
See MPF Program Guide section 4.3.1 Mortgage Loan Delivery.
In addition, MPF Program Guide section 7.3 Department of Treasury Office of Foreign Assets Control (OFAC) Regulations has been updated to require PFIs/Servicers provide the Fannie Mae Loan Number when notifying MPF Provider of an OFAC match.
- MPF Customer Service Portal
- Email: MPF-Help@fhlbc.com
Phone: (877) 345-2673
- References:
- MPF Announcement 2025-101
