Federal Home Loan Bank of Chicago (MPF Program)
MPF Announcement 2026-60
September 23, 2026
Summary
MPF Announcement 2026-60 updates the RefiNow option under MPF Xtra by aligning project review waiver requirements with Fannie Mae's LL-2026-03 and SEL-2026-07, and requires a Desktop Underwriter (DU) Approve/Eligible recommendation for all RefiNow loans sold into MPF Xtra, disallowing manual underwriting. The clarifications are effective immediately, with DU messages updated September 25, 2026. Affected entities are MPF participating financial institutions (PFIs) delivering RefiNow loans to MPF Xtra.
AI-generated summary · Sep 23, 2026. Verify with your compliance counsel before acting.
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MPF Announcement 2026-60
Date: September 23, 2026
Effective Date: Immediately (unless otherwise noted)
Audience:
- Compliance/Legal
- Program Management
- Origination
- Quality Control
- Servicing
- Underwriting
Alert:
- Clarification
- New Policy
- Policy Update
- Reminder
- Training Information
Product:
- MPF Direct
- MPF Government MBS
- MPF Traditional
- MPF Xtra®
MPF Xtra Selling Guide Updates
Fannie Mae recently published an update to Lender Letter LL-2021-10, expanding the eligibility for the RefiNow option, which includes the following updates:
- Aligned requirements for waiver of project review with Selling Guide policy. In line with FNMA LL-2026-03 and FNMA SEL-2026-07
Effective: These clarifications are effective immediately and apply to manually underwritten loans and DU Version 12.1 loan casefiles. The RefiNow project review message in DU will be updated the evening of September 25, 2026 to reflect these clarifications.
Reference
Please note you can access the MPF Guides and MPF Announcements on our MPF Website.
Visit the MPF Website to review and register for upcoming complimentary MPF Webinars.
As a reminder, in order for RefiNow to be delivered into the MPF Program, PFIs will need to follow the additional guidelines and operation details provided below:
- Please note that the MPF Program has opted to place a Desktop Underwriter (DU®) requirement on all MPF Xtra RefiNow deliveries. Although FNMA’s guidelines allow for the use of manual underwriting, the MPF program will require a Desktop Underwriter (DU®) Approve/Eligible AUS recommendation for all RefiNow loans sold into MPF Xtra.
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
Source: https://www.fhlbmpf.com/program-guidelines/mpf-program-updates/mpf-announcement-2026-60
Common questions
- What does "MPF Announcement 2026-60" cover?
- MPF Announcement 2026-60 updates the RefiNow option under MPF Xtra by aligning project review waiver requirements with Fannie Mae's LL-2026-03 and…
- Which agency issued this update?
- This update was issued by Federal Home Loan Bank of Chicago (MPF Program).
- When was it published?
- It was published on September 23, 2026.