With CMC Funding as the servicer, your customer receives the best of both worlds – access to a home loan from a local institution they trust and servicing from experienced mortgage professionals.

About CMC Funding

Founded in 2003, Capital Markets Cooperative (CMC) has built a full suite of products and services that deliver greater profitability to its mortgage banking clients. CMC Funding, CMC's mortgage servicing rights (MSR) acquisition division, is partnering with the MPF Program to purchase MSRs from participating PFIs under the MPF Traditional products.* CMC loans are serviced by its sister company, Specialized Loan Servicing (SLS). SLS services over 390K loans with UPB of $55 billion.

In 2016, Capital Markets Cooperative and CMC Funding were acquired by Computershare Limited (ASX:CPU). Founded in 1978, Computershare is a global market leader in several financial sectors, including mortgage servicing. Computershare is represented in all major financial markets and has over 16,000 employees worldwide. For more information, visit Capital Markets Cooperative.

*See the CMC Whole Loan Servicing Transfer Manual (Traditional).

Getting Started

Before you apply for a product, there are a few things to complete before you get started:

  1. Application Period

    • Execute a MPF-specific Corporate Resolution (For NEW PFIs only); 
    • Set up MPF in your Product and Pricing Engine (PPE); and
    • Complete and submit your application.


  2. Set-Up Process After Application Approval

    • Confirm any 3rd party vendor relationships are finalized (if applicable);
      • MPF Products and Pricing are available through five providers:
        • Compass Analytics
        • Ellie Mae®
        • LoanScorecard™
        • Mortech
        • Optimal Blue
    • What you will need:
      • Fannie Mae/Freddie Mac Conforming Documents - Use the Fannie Mae® 3200 multi-state note and state-specific mortgage or deed of trust
      • Set-up Fields
      • Additional Information File (only required if using automated data submission)
      • Resources from FHLB Des Moines MPF
    • Determine if your institution will use Automated or Manual Underwriting (If you are interested in access to DU, contact your Mortgage Relationship Manager).
      • Underwriting can be performed manually or by utilizing AUS findings from DU® or LPASM.
    • Review the loan process and let your implementation specialist know if you are unsure of any step.
    • Log in and familiarize yourself with eMPF.

    Note: There are no specific document packages available for MPF products within any current LOS system.

  3. Training

    A dedicated team of trainers is available to prepare you for launch. Customized training will be scheduled with your institution after application approval and when you have loans ready to sell. Our training team will provide you with a comprehensive product review. We recommend several individuals participate in the training sessions, including senior lender, mortgage dept. manager, loan officers, underwriters and/or quality control staff, processors/mortgage support staff, and post-close staff,

    Training Resources
  4. Selling into the MPF Program

    Once you’ve completed your necessary applications, set up systems and completed training, you are now ready to lock and start funding your first loans. With each loan, you will need to prepare a few items for post-closing and ongoing quality control. Don’t worry – we have resources to help walk you through each step. Get ready to enjoy your new opportunities with MPF!

    Custody Package Delivery instructions Quality Control Requirements CMC Funding Whole Loan Servicing Transfer Manual

MPF Traditional Servicing Options At a Glance

PFI or Approved Sub-Servicer
Servicing Retained

Servicing Released

Iowa Bankers Mortgage Corporation (IMBC)
Servicing Released

CMC Funding uses a subservicer: Specialized Loan Servicing LLC (SLS)
Servicing Released
Loan Limits Conforming per the MPF Guide Conforming per the MPF Guide Conforming per the MPF Guide Conforming per the MPF Guide
Servicing States Decided by PFI Services Nationwide Arizona, Colorado, Illinois, Iowa, Missouri, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin

Services Nationwide (excludes NY and US Territories)

Remittance Type Decided by PFI Scheduled/Scheduled Actual/Actual Actual/Actual
Minimum Loan Amount None None None None
Minimum Loan Term 60 Months 120 Months 120 Months 120 Months
Eligibility Requirements Colonial Eligibility Requirements MC Eligibility Requirements CMC Eligibility Requirements