MPF® Traditional Training:Retained

Originating & Underwriting

Processing

Complete the processing steps and ensure the loan meets the MPF® Program requirements.

Learn More: View our MPF Traditional: Product Eligibility & Underwriting webinar.

Your Responsibilities

  1. Run your automated underwriting system (if applicable)

  2. Gather borrower information

  3. Verify the information provided by the borrower, on the 1003, is consistent with the documentation in the file and data within DU/LPA.

  4. Order an Appraisal

  5. Order the Title work

  6. Order a Life of Loan Flood Certification

    Note: A flood zone determination certificate with life-of-loan coverage must be obtained

  7. For LTVs over 80%: Obtain private mortgage insurance from our list of approved vendors.

     
    • Arch Mortgage Insurance Company (formerly CMG Mortgage Insurance Company)
    • Essent Guaranty, Inc.
    • Enact (formerly Genworth MI)
    • Mortgage Guaranty Insurance Corporation (MGIC)
    • National Mortgage Insurance Co.
    • Radian Guaranty Inc.
    • United Guaranty Residential Insurance Company and United Guaranty Mortgage Indemnity Company
  8. If using an Automated Underwriting System (AUS): When loan data is updated and the AUS is submitted for the final time, loan information should match the documentation used to make the final decision.