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. Refer to the Fee Schedule 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
Preliminary invoice for loans during the previous month that were not certified within the required time. Contact the Custody Department at MPFCustody@fhlbc.com to report any discrepancies. They will review and adjust the invoice accordingly. 

Custody Uncertified Loan Final (ULF) Invoice
The final billing for loans during the previous month that were not certified within the required time, which will post just prior to the 18th of each month. The amount will be deducted from your eAdvantage general DDA on the 18th of the month (if the 18th falls on a non-business day, the fee will be deducted on the business day prior to). 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
Preliminary invoice for loan exceptions during the previous month. Contact the Custody Department at MPFCustody@fhlbc.com to report any discrepancies. They will review and adjust the invoice accordingly. 

Custody Exception Correction Fees Final (ECF) Invoice
The final billing for exception fees during the previous month, which will post just prior to the 18th of each month. The amount will be deducted from your eAdvantage general DDA on the 18th of the month (if the 18th falls on a non-business day, the fee will be deducted on the business day prior to). Be sure to have sufficient funds in your account to cover these fees; lack of funds will result in an insufficient funds charge.