Investor Accounting

MPF Investor Accounting is responsible for oversight of the Master Servicer (Computershare Limited f/k/a Wells Fargo Corporate Trust Services). After funding, you will need to become familiar with the requirements, MPF Program forms and exhibits for your monthly reporting.  Please refer to the applicable MPF Product Servicing Guides for complete details.

The MPF Program provides selling and servicing guides for all products, specific manuals, forms, and exhibits (together referred to herein as the “Guides”). The Applicable Agreements apply to all Servicers servicing Mortgage Loans sold under the MPF Program. This Servicing Guide outlines the requirements and/or processes for Servicers servicing loans under the MPF Program. Servicers must abide by the procedures, terms, and conditions set forth in this Servicing Guide, as it may be amended from time to time. Failure of a Servicer to perform its obligations under either the Applicable Agreements or the Guides constitutes an Event of Default entitling the FHLBank to exercise all available remedies as provided in the Guides and Applicable Agreements, including but not limited to termination of its Servicing Rights.

2024 MPF Investor Reporting Exhibits:

• 2024 MPF Investor Reporting Calendar - All Products
• Exhibit A: 2024 MPF Traditional Product Investor Reporting Calendar
• Exhibit A-X: 2024 MPF Xtra Investor Reporting Calendar
• Exhibit E-M: 2024 MPF Government MBS Investor Reporting Calendar

Also, click HERE to download MPF Investor Reporting reminders directly onto your desktop calendar by MPF Product.

Tips to Avoid Daily Overdrafts

• The MPF Program recommends that you fund the full amount for the reporting activity that you have reported for the day. Once the iTAR and daily remittance reminder emails are received, you can reconcile your remittance against them and remit any shortages at that point.
• It is highly recommended for all Servicers to reconcile accounts daily based on reporting activity. Cash deposited should equal cash expected. When those amounts are different they must be resolved immediately.  

Upcoming MPF Xtra Product Modifications

The MPF^® Program would like to provide additional details on the previously announced MPF Xtra product modifications (MPF Announcement 2022-48) regarding changes to the investor reporting processes and systems for MPF Xtra Mortgage Loans.

• Investor Reporting Changes
  • The MPF Program Master Servicer, Computershare, will send PFIs an automated e-mail (daily) notifying PFIs of the next day’s anticipated remittance/draft amount. This e-mail will include the remittance balance based on the data the PFI has submitted through their daily investor reporting
• Loan Level Data File Format Updates
  • Effective: The MPF Program is currently accepting the Fannie Mae Expanded Loan Activity Report (LAR 96) although not yet required. To begin using the LAR 96, Servicers must notify the Master Servicer at least 15 days before submitting their first LAR 96 file, by submitting the MPF Xtra Reporting Change Notification (Form SG370-X). The MPF Program is communicating with Fannie Mae regularly and will provide further details at a later date.
• Updates to the P&I remittance cash reconciliation for A/A mortgage loans
  • MPF Xtra accounts will now be debited daily based on the Investor reporting activity from the previous day. In the event the PFI doesn’t remit sufficient funds the account will be overdrawn. If the account is overdrawn, PFIs are required to fund the account in the same day via wire or same day ACH to clear the overdraft exceptions. If a PFI has over remitted funds, the surplus will remain in the account and PFIs are expected to contact the MPF Provider to reconcile or short funds during their next remittance. This new process allows Servicers to resolve reporting activity in real time and make reconciling cash more efficient.
    

Please visit our new MPF Xtra Product Enhancements webpage to stay up to date on the latest communications and trainings.

MPF Investor Accounting/Reporting Reference Guide

For MPF Traditional and MPF Government MBS products only: 
The total amount drafted from your Demand Deposit Account (DDA) on Remittance Day (on the 18th of the month or business day prior if weekend or holiday), totals from your remittance summary on your Final Turnaround Report (fTAR) which would include total principal, total net interest (+/-) any cash adjustments.

For MPF Xtra only:
The Servicer must deposit all funds into the P&I Custodial Account held with the MPF Program by 2:00pm Central Standard Time the next Business Day following the Servicer’s receipt of the funds.

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