Custody Fees

Custody Fees will be charged to you by the document custodian when errors are found on your custody documents and/or the loan is not certified or received within the required time frame of 7 calendar days from MPF Funding. For additional information, see the fee schedule located in the MPF Selling Guide, Section 15.5.

UNCERTIFIED LOAN FEES
You will be charged an uncertified loan fee of $1.00 per day for every day after 7 days that your loan is not certified.

See the corresponding reports located in eMPF:

  • Custody Uncertified Loan Fees (ULF) Invoice
    This is an initial report that tells you all the loans during the previous month that were not certified within the required time. You have the opportunity to research and rebut the fees at this point. If you find the charges are unjust, contact the custody department at MPFCustody@fhlbc.com. They will review and adjust the invoice accordingly.
  • Custody Uncertified Loan Final (ULF) Invoice
    Just prior to the 18th of each month, the final invoice will be posted indicating the fee that will be charged to your eAdvantage general DDA. Be sure to have sufficient funds in your account to cover these fees; lack of funds will result in an insufficient funds charge.

CUSTODY EXCEPTION FEES
You will be charged an exception fee of $3.50 per exception that is identified on your collateral file by the document custodian.

  • Custody Exception Correction Fees (ECF) Invoice
    This is an initial report provides you with a list of all your loans exceptions during the previous month. You have the opportunity to research and rebut the fees at this point. If you find the charges are unjust, contact the custody department at MPFCustody@fhlbc.com. They will review and adjust the invoice accordingly.
  • Custody Exception Correction Fees Final (ECF) Invoice
    Just prior to the 18th of each month, the final invoice will be posted indicating the fee that will be charged to your eAdvantage general DDA. Be sure to have sufficient funds in your account to cover these fees; lack of funds will result in an insufficient funds charge.