MPF Xtra®: Now Is the Time to Prepare for 2017 Investor Reporting Changes |
If your financial institution services loans under the MPF Xtra product, you’ve probably heard that Fannie Mae is updating its single-family investor reporting requirements, effective February 2017. That date may seem far off, but to take advantage of advance testing opportunities and ensure a seamless transition, PFIs can start preparing now. |
|
|
PFI Conversation: “Working with the MPF Program Was the Logical Approach” |
| Doug Maxham Vice President, Secondary Marketing PenFed Credit Union | Pentagon Federal Credit Union (known as PenFed), a member of the Federal Home Loan Bank of Atlanta, is the nation’s third-largest credit union and holds assets of approximately $20 billion. Focused on meeting the needs of active military personnel and veterans, PenFed serves over 1.4 million members in all 50 states, as well as military bases in Guam, Puerto Rico, and Okinawa. MPF in Focus recently spoke with Doug Maxham, Vice President, Secondary Marketing, about the strategy behind PenFed’s decision to partner with the MPF Program. |
|
|
Any Questions? Look to the Redesigned MPF® Guides and Other Helpful Resources |
While the MPF Program offers a variety of benefits, its defining feature is service. We support PFIs throughout the life cycle of a loan, from production, sale, and delivery all the way through servicing and payoff. If you need assistance at any point along the way, we’re here to help with our new user-friendly guides and individual support. |
|
|
Reduce Buy-Back Risk with Collateral Underwriter |
PFIs who deliver under the MPF Xtra® product are required to use Collateral Underwriter (CU) to resolve any findings that appear on their Submission Summary Report (SSR) after an appraisal is uploaded into the UCDP. These messages are generated by CU and alert the PFI to inconsistencies between the information in the appraisal and the wealth of data stored in the UCDP. Using CU, the PFI can identify the source of the problem and either correct the appraisal or refute the finding. |
|
|
Higher Education: MPF® University and Upcoming Webinars |
One of the advantages of membership in the MPF Program is the variety of complimentary online educational resources we offer to PFIs, including webinars and MPF University. More than 2,200 users have signed up for MPF University since its introduction in 2014, and more are enrolling every day. Provided through AllRegs®, this tool includes 40 on-demand online courses covering practical mortgage industry topics like Basics of Mortgage Processing, Elements of Title Insurance, Getting to Know the Truth in Lending Act, and Regulatory Compliance for Mortgage Lenders. Two certification options are available, as well: the Mortgage Lending Achievement Certificate (for completion of five eligible courses) and the Mortgage Lending Master’s Certificate (for completion of 20 eligible courses). |
|
|
Legal Notes |
The MPF® Program continually reviews mortgage-related industry and legal developments. Below are links to recent developments for your reference. Please address any questions you have about these topics to your compliance team or legal counsel. |
|
|
Coming Soon: The New eMPF® Website |
Participating Financial Institutions can look forward to a refreshed and redesigned eMPF website coming later this year. With an updated look and a more intuitive layout, the new eMPF will allow users to navigate the site, find reports, and make transactions more quickly and easily. The new website is expected to launch in the fourth quarter of 2016. In the meantime, check eMPF for updates and look for more information in the next issue of MPF in Focus. |
|
|
Follow Us on LinkedIn |
The MPF Program has a new LinkedIn page—Mortgage Partnership Finance Program—where we will post news and announcements. Click on the LinkedIn icon, then on the yellow “Follow” button in the top right corner of the page. |
|
|
2016 National Conferences |
|
|
|
|
|
|
|
|
|
|
|
Events
|
View all of the upcoming events and webinars on our calendar.
› View Calendar |
|
|
|
|
|
|