Program Update for MPF Traditional

Last Updated on September 2, 2022

This announcement covers FHLB Des Moines decision to accept loans with Appraisal Waivers for MPF Traditional.

FHLB Des Moines has announced that MPF Traditional loans with accepted Appraisal Waiver offers from Desktop Underwriter (DU) are now eligible to be delivered into the MPF Program.

Effective with the publication of this announcement:

  • Conventional loans with accepted Appraisal Waiver offers from Loan Product Advisor (LPA) (ACE Loans) are eligible for delivery as MPF Traditional (conventional) loans.
    • See section of the MPF Traditional Selling Guide for a list of transactions not eligible for an Appraisal Waiver.  
  • Field Review/Verification of Origination Appraisal: The MPF Program has updated the QC Appraisal Review requirements to reflect that the collateral risk assessment required as part of the random QC sample may be completed by an individual who is not a licensed or certified appraiser, as long as the individual is competent in appraisal theory.
    • See section 8.9.2 of the MPF Program Guide for additional requirements. 
MPF Traditional Guide Changes

Various non-substantive changes were made throughout the MPF Guides, to ensure clarity as to appraisal requirements and use of ACE Appraisal Waivers. See MPF Traditional Selling Guide 2.5,, 2.6.4, 2.6.11, 2.7, 4.2.1,,,  and 5.16.22

MPF Guides


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