Quality Control
The MPF Program’s Quality Control (QC) department performs post-funding reviews on Mortgage Loan Files to verify they meet the definition of investment quality, comply with the MPF Guides and the Applicable Agreements. Please refer to the MPF Guides for complete QC details.
eMAQCSplus is a web-based, easy-to-use portal for the secure upload of loan files requested for various types of MPF Quality Control reviews. eMAQCSplus also includes functionality for managing and reporting on your pipeline.
PFIs and Servicers are required to visit the eMAQCSplus webpage to obtain log-in credentials and sign up to receive email notifications.
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Origination Quality Control Review
Selected on a Monthly Basis
Income Worksheets
PFIs/Servicers Self Reporting
As Discrepancies are Discovered
Self-Employed Income Analysis: Cash Flow
Origination Quality Control Review Process Flow
On a monthly basis the MPF Quality Control department selects a sample of MPF Mortgage Loans for review utilizing the eMAQCSplus website.
MPF Quality Control
Mortgage Loan Files are selected for review on a monthly basis
PFI
Receives email with a list of specified Mortgage Loan Files
PFI
Must upload specified Mortgage Loan File(s) within 15 calendar days of the request to eMAQCSplus
MPF Quality Control
Reviews Mortgage Loan Files within 45 calendar days of receipt
PFI
Receives audit results via an email notification (all findings must be remediated)
Origination Quality Control Resources
What's Trending in MPF Quality Control
PFI eMAQCSplus User Manual
PFIs/Servicers Self Reporting
PFIs/Servicers are required to inform the MPF Service Center of all post-funding QC findings that adversely affect the investment quality or eligibility of a Mortgage Loan File. Any incident of suspected fraud or false representation, as defined under the Financial Crimes Enforcement Network (FinCEN) anti-money laundering and Bank Secrecy Act (BSA) regulations, must be reported immediately to mpfinvestordirectqc@fhlbc.com.
PFI/Servicer
Informs MPF Quality Control team within 30 calendar days of determination of adversely affected Mortgage Loan Files
PFI/Servicer
Uploads required documentation to eMAQCSplus
Investors
MPF Program, Fannie Mae, and/or applicable Government Agencies review documentation
PFI/Servicer
Receives notification of the investor's decision via email
PFIs/Servicers Self Reporting Resources
Income Worksheets
Self-Employed Income Analysis - Cash Flow
Form 1084 Cash Flow Worksheet
What Adjustments are Made in Schedule C Cash Flow Analysis
Employment and Other Income Analysis Worksheet
MGIC 2023 Cash Flow Analysis Worksheet - SAM Method
FHLBank Combined DTI Worksheet