Custody
Congratulations on funding your MPF® Program loan! MPF Custody ensures that all Mortgage Loans meet investor certification criteria. Review the resources below for an understanding of the Custody process.
Participating Financial Institutions (PFIs) are required to deliver specific documents to the MPF Program Custodian (Computershare). Mortgage Loans must receive an Initial Certification in accordance with the appropriate MPF Guides. In addition to the Initial Certification, MPF Government and MPF Government MBS loans must also receive Final Certification within 365 calendar days of funding.
MPF Traditional Products (MPF Original, MPF 125, MPF 35, MPF Government) and MPF Government MBS:
PFIs are required to deliver specific documents to the MPF Program’s Custodian within seven (7) calendar days of the Funding Date
by the MPF Bank.
MPF Xtra - Effective for all funding confirmations:
The pre-funding Initial Certification process will be required in order
for loans to complete the funding process.
Please refer to the MPF Guides for complete details on all MPF Products.
Initial Certification Process Flow:
MPF Traditional Products (MPF Original, MPF 125, MPF 35, MPF Government) and MPF Government MBS
Within 7 Calendar Days from Funding
Submit Note(s) and required documents to the MPF Program Custodian to obtain Initial Certification.
Reports
Review Initial Document Exception Report on the eMPF Website, posted daily. All exceptions must be cleared for Initial Certifications.
Clear Exceptions
Send Initial Document Exception Report along with updated documentation for MPF Program Custodian review.
Initial Certification
Mortgage Loans with no outstanding exceptions appear on the Certified Loans Report available on the eMPF Website, posted daily.
Initial Certification Process Flow:
MPF Xtra
Submit Batch
Submit your loan funding request to initiate the document certification process and obtain your MPF Loan number, you will not have to request funding again.
Note(s) & Required Documents
Submit Note(s) and required documents to MPF Program Custodian to obtain Initial Certification.
Reports
New certification reports are used to track the Initial Certification process: Pre-Certification Completed, Pre-Certification Documentation Exception, and Pre-Certification Files Not Received
Clear Exceptions
Send Pre-Certification Documentation Exception Report along with updated documentation for MPF Program Custodian review.
Initial Certification
Mortgage Loans with no outstanding exceptions appear on the Pre-Certification Completed Report available on the eMPF Website, posted daily.
Loan Funding
The funding process will be initiated by the MPF Program once notification has been received from the MPF Program Custodian that the documents have been certified.
Final Certification Process Flow (MPF Government and MPF Government MBS Products only)
Within 365 Calendar Days from Funding
Submit Loan Guarantee-Insurance and required documents to MPF Program Custodian to obtain Final Certification.
Reports
Review Final Document Exception Report on the eMPF Website, posted daily. All exceptions must be cleared for Final Certifications.
Clear Exceptions
Send Final Document Exception Report along with updated documentation for MPF Program Custodian review.
Final Certification
Mortgage Loans with no outstanding exceptions appear on the Certified Loans Report available on the eMPF Website, posted daily.
Custody Quick Reference Guide
MPF Traditional
(MPF Original, MPF 125, MPF 35, MPF Government)
Servicing Retained and Released
(Servicing Released Only)
Not applicable
(Servicing Released Only)
(Servicing Released Only)
Temporarily Suspended
