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MPF Xtra Selling Updates – FNMA LL-2026-03 and FNMA SEL-2026-07
Fannie Mae published Lender Letter 2026-03 and SEL-2026-07 incorporating corresponding Selling Guide updates, which cover the below referenced Selling topics, applicable to mortgage loans sold under the MPF Xtra product:
- Updates to Project Standards & Property Insurance Requirements:
- Revisions related to condominium project eligibility, project review requirements, reserve funding requirements, and property insurance standards.
Effective: Immediately
- Revisions related to condominium project eligibility, project review requirements, reserve funding requirements, and property insurance standards.
- PERS requirements for manufactured housing with deed restrictions and single-section units
- Requirements for manufactured housing to streamline eligibility for certain condo and PUD projects.
- Reminder: Shared Equity Transactions are not eligible for delivery into the MPF Xtra Program.
Effective date: Immediately
Miscellaneous updates:
- eMortgage Technical Requirements-
Reminder: eNote loans involving inter vivos revocable trusts are not eligible for delivery into the MPF Program, including as MPF Xtra loans. - Credit and DTI Clarifications- Clarified treatment of authorized user tradelines and requirements for excluding certain debts paid by others from DTI calculations
Other topics mentioned in the Fannie Mae announcement do not apply to MPF Xtra.
Fannie Mae Lender Letter LL-2026-03 also incorporated servicing-related provisions addressing property insurance monitoring requirements, annual borrower insurance reminders, and lender-placed insurance. These changes will be reflected in a future update to the Fannie Mae Servicing Guide.
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
- MPF-Help@fhlbc.com
- 877.345.2673