Congratulations, you've sold your loan to MPF®!
Now that you have funded your loan, you need to overnight the custody file to the document custodian.
Your Responsibilities - Delivering the Custody Package:
Prepare the custody file folder.
- For each loan sold to MPF, you must deliver the custody documents to the MPF Document Custodian (Wells Fargo), which maintains the safekeeping of your MPF custody file.
- Place the custody documents into a legal size, manila file folder.
- You must attach a label to the top right corner of the folder.
- The labels must contain the following information:
- For New PFIs Only: MPF Provider will provide the first set of file labels. You are responsible for creating labels after those are depleted.
Tip: Use our handy label template!
Proof the documents to be included in the custody file folder.
Tip: Proof the custody file to eliminate excess fees: Learn more about Custody Fees.
Prepare the documents to be included in the custody file folder.
- The custody file must contain the following documents:
Ship the custody folder.
- The custody file must be shipped to the document custodian and certified within 7 calendar days of MPF Funding.
Overnight the file via UPS or FedEx to the following address:
Wells Fargo Bank, NA
751 Kasota Avenue
Minneapolis, MN 55414-2842
Tip: To avoid an excess overnight mailing fee, proof the document package using the MPF Initial Certification Review Checklist (Exhibit K) prior to delivering the custody package to the document custodian.
Retain the original final/trailing documents.
- As a servicing PFI, the recorded mortgage and final title policy will be retained in the loan file.