Originating & Underwriting
Pricing & Locking a Loan
Benefits of MPF Traditional pricing include:
- No additional points for low loan amount;
- No additional points for second homes;
- No additional points for cash out refinances;
- No loan level price adjustments; and
- No MPF delivery fees.
Determine your borrower's interest rate.
- Access pricing at the eMPF website.
- Rate sheets are posted between 8:30 AM and 3:30 PM (CT).
- Price the loan using the servicing remittance option for your master commitment.
- When selecting the MC# from the MC list, your remittance option is provided.
- Servicing remittance option for loans serviced by IBMC will be Actual/Actual.
- Pricing is subject to change based on bond market movement.
Tip: How to price and read the MPF Price Sheet.
Review IBMC’s servicing release premium (SRP) schedule.
- The SRP paid by IBMC is based on the SRP fee schedule in effect on the day the loan was locked.
- IBMC pays the SRP once a month for all loans boarded in the previous month.
- The SRP will be paid by the fifth business day of the month.
- Each month, IBMC will provide a loan level detail report to support SRP payments.
- View IBMC's SRP schedule.
Tip: Find out how SRP is calculated.
Loans can be locked via the eMPF website between 8:30 AM and 3:30 PM (CT).
- Lock Extensions
- There will always be an extension fee regardless of how the bond market has moved.
- Extensions can be for one day at a time or for multiple days; an extension cannot exceed a total of 30 calendar days.
- Extension fees will be calculated and quoted to you; you will have 60 seconds to accept or decline the quote. (For quotes not accepted within 60 seconds, simply resubmit.)
- Extension fee will be charged to your general Demand Deposit Account (DDA) within eAdvantage (your institution's banking site with FHLB Des Moines) on the date the extension is accepted.
- You will want to have funds in your general DDA to cover the extension fee.
- To request an extension, go to the eMPF website's “Transaction” tab and select "Delivery Commitment", then "Extensions."
- MPF Traditional Conventional and Government delivery commitments may be extended until 4:00 PM CT. This allows an additional 1/2 hour to obtain an extension. When MPF announces an early close for deliver commitments and funding activity, extensions will have the same earlier cut-off time (typically 1:00 PM CT).
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