December 16, 2014
The Mortgage Partnership Finance® (MPF®) Program values the high-quality performance of the mortgages delivered by Participating Financial Institutions (PFIs) under its various mortgage products. In its ongoing commitment to support your efforts to produce high-quality mortgages, the MPF Quality Control (QC) team is excited to announce the introduction, in January, of a new Web-based QC system, eMAQCS (Mortgage Analytics Quality Control System – pronounced “e-max”). This new platform features several key upgrades that will streamline the entire QC process and increase your efficiency. This is the first in a series of emails that will outline details about future changes as well as benefits of this new service.
eMAQCS will be launched to PFIs in a phased approach beginning on Thursday, January 15, 2015. An initial group of PFIs will be notified via email before they have the opportunity to begin using eMAQCS. No action or process changes will be required from PFIs at this time. PFIs will continue to upload any requested documentation, however the documents will go directly into eMAQCS.
PFIs will receive an email notification of any missing loan documents as they do today and can view the notice directly on eMAQCS. QC results will continue to be sent to PFIs via email and PFIs will use the current process to remediate issues. The sampling methodology will not change with the introduction of eMAQCS. The MPF QC team will use eMAQCS to order, track, and review MPF loan data and documentation for QC reporting and remediation.
The Advantages of eMAQCS for PFIs:
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Reduce expenses
Opportunity to eliminate paper |
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Expedite service
Potential to save up to 15 days in processing time |
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Increase security
Eliminates the paper transfer of PII (personally identifiable information) |
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Boost efficiency
Use of a built-in workflow process |
PFI Support and Training
In early January 2015, the MPF QC team will provide comprehensive training via the following platforms:
For More Information
If you have questions, please contact your MPF Bank Representative or a member of the MPF QC team via email or phone:
Tony Calkins at 312-565-5842; or
Mike Miller at 312-552-1723
New loan purchases available through the Federal Home Banks of
Atlanta, Boston, Chicago, Dallas, Des Moines, New York, Pittsburgh,
San Francisco, Seattle, and Topeka. |
