Important Program Timeframes - MPF Traditional Released to Newrez

• The loan must fund on or prior to the lock expiration date.
  • Effective Date of Servicing Transfer is equal to the date the first payment is due to Newrez.
    • For loans purchased by MPF On or Before the 12th
      • Serviced loans purchased on or before the 12th calendar day of the month will have a first payment due to Newrez on the 1st day of the next month. For example:
        • Funding Date: August 9
        • 1st Borrower Payment Date Due to Newrez: September 1
        • Effective Servicing Transfer Date: September 1
    • For loans purchased by MPF After the 12th
      • Serviced loans purchased after the 12th calendar day of the month will have a first payment due to Newrez on the 1st day of the month after the next month. For example:
        • Funding Date: August 22
        • 1st Borrower Payment Date Due to Newrez: October 1
        • Effective Servicing Transfer Date: October 1
• The custody file must be delivered to and certified by the MPF Document Custodian within 7 calendar days of being purchased by MPF. 
• Upload the servicing file to Newrez within 7 calendar days of MPF funding.
• Mail the original final/trailing documents to Newrez within 120 days of MPF funding.