SCOUT – FHLB MPF® Contract Underwriting
Iowa Bankers Mortgage Corporation (IBMC) developed the Secure, Compliant, Outsourced Underwriting Team (SCOUT) program to help Participating Financial Institutions (PFIs) streamline their use of the FHLB Mortgage Partnership Finance (MPF®) program. Through SCOUT, IBMC provides compliant, secure and efficient outsourced underwriting, helping PFIs access secondary market expertise while maintaining control of the loan decision.
With IBMC as your underwriting partner, you benefit from our experienced staff and our exceptional focus on customer service. The underwriting function is performed in our office by our underwriting team.
HOW IT WORKS
- The PFI receives and processes the loan application per standard practices and procedures.
- The PFI submits the loan and supporting documents for underwriting to IBMC via the MyIBMCHQ portal.
- IBMC’s SCOUT team reviews the file using Fannie Mae/FHLB MPF® standards and issues a written recommendation.
- The PFI reviews IBMC’s recommendation and makes the final loan approval/denial determination.
- The PFI delivers the loan to FHLB MPF®. The loan may be delivered as servicing released to IBMC or servicing retained by the PFI.
- A flat fee is charged per file; no monthly fees or minimum file volume required.
IBMC’s SCOUT program helps PFIs expand product offerings, access expert underwriting support, strengthen credit quality and manage costs more efficiently.
