 | | A Snapshot for Participating Financial Institutions | Winter 2017 | Mortgage Partnership Finance® (MPF®) Program |
“Created to Serve Community Lenders”
 | John Stocchetti
Executive Vice President &
Group Head, Mortgage
Partnership Finance Group
and Project Management Office
| Reflecting on 20 Years of the MPF Program
This year marks the 20th anniversary of the MPF Program—a time to appreciate our progress and look to the future. To kick off the celebration, MPF in Focus asked Executive Vice President John Stocchetti to discuss the program’s founding philosophies, its resilience during difficult times, and its continued relevance in a changing marketplace.
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| Simplify Your Annual Eligibility Certification | 4 Tips for a Smooth Certification Process
This year’s MPF Program Annual Eligibility Certification (AEC) process deadline is January 31, which means PFIs will need to act fast. Fortunately, we’ve taken steps to simplify the process, and there are ways you can smooth it even further.
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| In with the New | February Is Go-Time for MPF Xtra® Investor Reporting Changes
By now, you’ve heard about the upcoming MPF Xtra investor reporting changes. Your institution has chosen a reporting method (daily, monthly, or monthly with limited daily reporting). Now, all that remains is the transition. February will be challenging because the two investor reporting systems will overlap: the January cycle will close out under the old system, while the February cycle will begin with the new. Preparing now will go a long way toward ensuring a smooth transition next month.
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| A Voice for PFIs | The MPF Advisory Council Helps Shape the Program’s Future
The MPF Program created the MPF Advisory Council in 2012 to establish a direct dialogue with PFIs and to benefit from their insights into local market conditions and their experiences with the program and its products. The council meets in Chicago twice each year and includes 18 members, two selected by each Federal Home Loan Bank. Here, we highlight the perspectives of two members who have served on the MPF Advisory Council since its inception: Steve DeRaddo, Executive Vice President of Lyons, NY-based LNB Banking, and Judy Dodier, Senior Vice President of Home Financing for Lowell, MA-based Align Credit Union.
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| 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.
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| Upcoming Webinars | To register for one of the MPF Program’s complimentary webinars, click on a date below. You can also find a calendar of upcoming webinars in the Education section of the MPF Program website at www.fhlbmpf.com.
Wednesday, January 18
MPF Xtra Investor Reporting: What to Expect in February 2017
Thursday, January 19
The MPF Program Annual Eligibility Certification Process: Submitting Forms OG1 and OG2
Wednesday, January 25
MGIC Presents: Processing Mortgage Applications
Thursday, January 26
MPF Xtra Investor Reporting: What to Expect in February 2017
Wednesday, February 8
MGIC Presents: Basics of Self-Employed Borrower Income Analysis
Wednesday, March 8
MGIC Presents: Advanced Self-Employed Borrower Income Analysis
On-Demand
MPF Xtra: 2017 Investor Reporting Changes |
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| Reminder: Get Ready for the Uniform Closing Dataset (UCD) | UCD Files Will Be Required Starting in Q3 2017
As of September 25, 2017, PFIs who deliver loans under the MPF Xtra product will be required to submit a UCD file for each loan directly to Fannie Mae using its collection service. Here are some excellent ways to ensure your institution is well prepared.
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| 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. |
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| 2017 National Conferences | |
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| Events |
View all of the upcoming events and webinars on our calendar.
› View Calendar | |
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FHLBC
200 East Randolph Drive
Chicago, IL 60601
Phone: 877-463-6673
www.fhlbmpf.com |
New loan purchases available through the Federal Home Loan Banks of
Atlanta, Boston, Chicago, Dallas, Des Moines, New York, Pittsburgh, San Francisco, and Topeka. |
| Copyright 2017, Mortgage Partnership Finance Program. “Mortgage Partnership Finance,” “MPF,” “MPF Xtra,” and “eMPF” are registered trademarks of the Federal Home Loan Bank of Chicago. The “MPF Mortgage Partnership Finance” logo is a trademark of the Federal Home Loan Bank of Chicago. |
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This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “anticipates,” “believes,” “expects,” “could,” “plans,” “estimates,” “may,” “should,” “will,” or their negatives or other variations on these terms. We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com. We assume no obligation to update any forward-looking statements made in this newsletter. | We hope you enjoyed this email communication; however, if you would like to unsubscribe, please .
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