View All Program Updates
MPF Traditional Servicing-Escrow Analysis Clarifications
Effective Date: Immediately (unless otherwise noted within)
The MPF Program is updating the MPF Traditional Servicing Guide to clarify Servicer responsibilities for escrow analysis related to Payment Deferrals and Loan Modifications.
As clarified, Servicers must:
- use the most current available tax and insurance information when conducting escrow analysis;
- perform an escrow analysis when determining Trial Period Plan terms and again upon completion of the trial period when establishing final loan modification terms; and
- include any newly calculated escrow shortage in the borrower’s monthly payment beginning with the first payment due on the Payment Deferral or Loan Modification effective date.
For additional information, please refer to the following sections of the MPF Traditional Servicing Guide:
- 9.2.3.3 Performing an Escrow Analysis for a Payment Deferral
- 9.2.4.5 Performing an Escrow Analysis
- 9.2.4.7 Administering an Escrow Account in Connection With a Mortgage Loan Modification
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