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MPF Xtra loans must be pre-certified prior to being purchased by MPF.
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When determining your lock expiration date, allow an additional 10 calendar days for the pre-certification process
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Loans must be locked between the hours of 8:30 AM to 3:30 PM (CT).
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MPF must purchase the loan on or prior to the lock expiration date.
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PFI must request MPF funding not less than 10 calendar days prior to lock expiration.
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Upon requesting MPF funding PFI must deliver the custody file to the MPF Document Custodian. (Make sure there is a full 10 calendar days for the pre-certification process.)
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Once Custody certification MPF will request funds from Fannie Mae. Fannie Mae will validate the information provided to MPF against Desktop Underwriter information.
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All information must agree. PFI will be notified of any discrepancies. Any delays in funding could require a lock extension.
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MPF will fund the loan.
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PFI will retain the original mortgage file.
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PFI will retain original trailing/final documents in the mortgage file.