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MPF Servicing – Insurance Loss Draft Process Updates
In efforts to streamline the property insurance loss notification process, the MPF Program is announcing enhancements to the submission of the Form SG342: Property Insurance Loss Draft Notification.
Current Process
Currently, the Form SG342 and all supporting documentation is submitted to the MPF Provider via email through the MPF Servicing mailbox.
Updated Process
Going forward, Servicers must submit the Form SG342 and the supporting documentation via eMAQCSplus. 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.
Servicers may also submit requests for subsequent disbursements, as applicable by accessing their initial claim in eMAQCSplus. Servicers will no longer be required to submit a new Form SG342 for each subsequent disbursement request.
Effective Date
The Form SG342 will be made available in eMAQCSplus on August 16, 2025, Servicers are encouraged to submit all new claims in eMAQCSplus as soon as it becomes available but are required to do so for all new claims submitted on or after September 1, 2025.
Any existing claims that were submitted via email prior to September 1, 2025, will continue to be addressed via email until the claim is closed.
Any Form SG342 submitted to the MPF Provider via email (using the MPF Servicing mailbox) on or after September 1, 2025, will not be processed and Servicers will be instructed to submit the Form SG342 via eMAQCSplus.
Training
Servicers are encouraged to access the On-Demand Webinar: Processing Hazard Insurance Loss Claims in eMAQCS®plus for a walk through on the new submission process.
Form SG342 Updates
The Form SG342 will be updated to reflect the new submission process. Note, only the submission process is changing, Servicers must continue to submit the Form SG342 and supporting documentation as required in the applicable MPF Servicing Guide.
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.
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: [email protected]
- Phone: (877) 345-2673