MPF Announcement 2026-22

MPF Announcement: 2026-22 Date: April 27, 2026 Alert: Policy Update Audience: Compliance/Legal, Program Management, Origination, Quality Control, Servicing, Underwriting Product: MPF Government MBS, MPF Traditional, MPF Xtra® Effective Date: Immediately (unless otherwise noted within)

MPF Traditional – Expanded Eligibility Now Available

As recently communicated in MPF Announcement 2026-17, the MPF Program shared upcoming enhancements to the MPF Traditional Products. The MPF Traditional Selling Guide has been updated to incorporate these enhancements.

As a result, effective immediately, PFIs may begin to deliver the following expanded eligibility:

• Eligibility of up to 97% Loan-to-Value (LTV) for the following Fannie Mae and Freddie Mac Products:
  • Fannie Mae HomeReady® & MH Advantage®
  • Freddie Mac HomePossible® & CHOICEHome®*

*Overlay: Must meet the standard mortgage insurance requirements of the applicable AUS, however, mortgage loans originated with reduced mortgage insurance coverage in exchange for a pricing offset are not eligible for delivery.

Refer to Section 2.6.11 Eligible Fannie Mae and Freddie Mac Mortgage Products for additional information.

• Manufactured Housing Expanded Eligibility
  • Incorporated eligibility of single width manufactured homes,
  • Revised acceptable mortgage loan term from 20 years to 30 Years,
  • Added flexibility for down payment sources including land-in-lieu and ability to use gift funds,
  • Incorporated the eligibility of secondary financing, and
  • Updated Master Commitment limits, to reflect that no more than 15% of the total Master Commitment may consist of manufactured housing.

Refer to Section 6.8 Manufactured Housing for additional information.

• Clarified that home improvement/rehabilitation mortgage loans are eligible for delivery when used to repair or renovate a home.
  • The mortgage loan must meet Guide eligibility requirements, the property must be properly appraised based on its “as-completed” value, and the renovations must be completed prior to delivery.

Refer to Section 2.6.3.4 Renovation Mortgage loans for additional information.

• Incorporated PFI-Funded Affordable Housing Programs (AHP) – Refer to Section 4.4 Affordable Housing Program Funds for additional information.

Available Resources

To learn more about these updates, PFIs are encouraged to utilize the following available resources:

• On-Demand Webinar
• Frequently Asked Questions
• MPF Enhanced Guidelines Product Sheet

For questions or assistance, please contact the MPF Service Center by using one of the following options:

• MPF Customer Service Portal
• Email: MPF-Help@fhlbc.com
• Phone: 877.345.2673