MPF Xtra® FAQs

Do you have a question about the MPF® Xtra Product?

We are here to help! Start with our most frequently asked questions below. Contact us for more information.


General

  • Yes, if more than one funding occurs on a single business day, entries will be combined on a single line item in a PFI’s primary DDA statement.

  • When Delivery Commitment extension fees, Pair Off fees, MPF Fundings are transacted by the PFI, the individual completing the process will receive an email of confirmation from MPF. It is suggested that these emails are forwarded to the PFI’s accounting department so they are aware of the transactions going through the general DDA account. Other fees that may need to be communicated to the accounting department would include custody fees and late investor reporting fees.

    When a PFI reviews their FHLB accounts on eAdvantage, they will notice there are codes used after transactions.

    Click here for code definitions.

  • Reports for managing MPF activity are available within the eMPF website. If you need access to eMPF, forms required for managing MPF authority updates are available on this site under the “Resources” tab. Below you will find samples of some reports available in eMPF, as well as a description of these reports.

    These are not real time reports.

  • Please contact your Mortgage Relationship Manager to begin the process of reactivation.

  • On the eMPF login screen, select the "Forgot Password" option. You will need your User ID to reset your password. 

    If you do not have your User ID, please contact the MPF Service Center at 877.345.2673 and choose Option 1 to confirm your User ID and reset your password.

  • Visit fhlbmpf.com and click on “MPF Guides” in the upper right hand corner. 

  • Visit fhlbmpf.com and choose “AllRegs Guides” in the upper right hand corner to register for MPF announcements. You can manage your options by clicking on "E-Mail Subscriptions".

  • Manage MPF Program Authority Updates. A list of documents and a description of the forms and authorities are provided. 

  • Training for MPF can be found on our MPF Website.

  • For questions on which products give you the best execution, check out the Product Comparison and/or contact your Mortgage Relationship Manager. 

Accounting

  • The Chicago eBanking account number for MPF Xtra P&I can be found on the Notice of New Account. The completed form was provided to you when were approved for the MPF Xtra product. Please contact the Mortgage Products Group to request a copy.

  • Instructions can be found in the eBanking Access for PFIs document. 

  • Visit the FHLB Des Moines site for wire information and the fee schedule. 

Investor Reporting

  • Remittance of MPF Xtra P&I Funds

    • Funds are to be remitted daily regardless of the dollar amount
    • By 10:00 AM (CT) on the next business day following receipt of the funds
      • The MPF Xtra Servicing Guide says 2:00 PM, best practice is 10:00 AM particularly when funds are sent via ACH
      • P&I payments net of the servicing fee must be remitted to the P&I Custodial Account at the Federal Home Loan Bank of Chicago
        • This account is established for you as part of the approval process for the MPF Xtra product
        • FHLBDM will provide you with the account information
      • Non-compliance will result in assessment of penalty fees
      • Remit daily regardless of the dollar amount collected
      • If a correction is required; adjust your next remittance

    Remittance Options

    • Daily remittances are sent to the Chicago DDA via ACH transaction or via wire
      • ACH remittance to FHLB Chicago – highly recommended
      • Wire remittance to FHLB Chicago
        • Each wire incurs a fee, which is billed monthly to the PFI’s main DDA account via eAdvantage
        • FHLB Chicago Bank routing number – ABA 071004501
        • To DDA #0000XXXXX (9 digits)
        • Must contain check digit – check digit not displayed on eBanking Statement

  • The Delinquency Reporting Excel spreadsheet can be found in the MPF Guides under Exhibits. 

  • The Exception Clearing Excel spreadsheet can be found in the MPF Guides under Exhibits. 

Definition

  • The MPF program has partnered with Computershare Limited to perform various master servicing duties on the MPF Provider’s behalf. PFIs are required to report MPF mortgage loan activity directly to the Master Servicer.

  • The MPF program has partnered with Computershare Limited to provide mortgage document custodial services for the MPF Program and its PFIs. The Document Custodian maintains the safekeeping of your file documents until conditions warrant their release.

  • The MPF Provider serves as manager and provider of services to PFIs and MPF Banks in connection with the MPF Program.

  • MPF is a mortgage purchase program established to provide a competitive secondary market alternative for members of participating Federal Home Loan Banks.

  • MPG is a team at FHLB Des Moines that administers the MPF program, offering support and guidance throughout your MPF journey. Contact Us for sales/inquiries or service and support. 

  • A secure, transactional website where PFIs can provide their loan data to MPF, lock and sell loans, and access reports and resources.