MPF Servicing Review Analyst

At the Federal Home Loan Bank of Chicago, employees come first - that’s why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. 

• Collaborative, in-office operating model

• Retirement program (401k and Pension) 

• Medical, dental and vision insurance 

• Lifestyle Spending Account 

• Competitive PTO plan 

• 11 paid holidays per year

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• Helping protect the MPF Program by evaluating servicing operations across the MPF Xtra portfolio and identifying risks before they become larger issues.

• Strengthening relationships with PFIs, servicers, and Home Loan Banks through oversight, training, and practical guidance that supports consistent servicing practices.

• Supporting compliance with MPF Program and Fannie Mae requirements while helping improve the customer experience and operational effectiveness across the program.

What you can expect

• Identify and schedule MPF Xtra Servicing Only MORE reviews for applicable PFIs and servicers on a triennial or annual basis including servicing aggregators.

• Gather and analyze internal servicing data to build the framework for each review.

• Lead meetings with PFIs, servicers, and sub-servicers to discuss MORE scope, servicing practices, documentation, review observations, and training opportunities.

• Assess PFI and servicer capabilities to meet MPF Xtra Program requirements, Fannie Mae Servicing Guide requirements, MPF Program Guide requirements, and applicable operational expectations across the servicing lifecycle.

• Prepare reports, provide recommendations, and supporting documentation for necessary stakeholders

• Identify training opportunities; coordinate with appropriate internal teams and owning Home Loan Banks to support the trainings.

• Monitor emerging servicing changes, including Fannie Mae reporting modernization, escrow event-based reporting, servicing system readiness, data requirements, and related operational impacts to PFIs and servicers.

• Develop, maintain, and present training materials, job aids, and templates regarding servicing operations for internal and external audiences.

• Partner with MPF Provider teams and other stakeholders to support servicing oversight, customer experience, operational consistency, and compliance risk management

What you'll bring

• Bachelor’s degree in business, mortgage banking, or a related field; or equivalent mortgage industry experience.

• 5+ years of secondary mortgage market, mortgage servicing, investor reporting, or related mortgage operations experience.

• Strong working knowledge of mortgage servicing requirements, loan administration, custodial account reconciliation, investor reporting, delinquency/default processes, and servicing policy and procedure expectations.

• Knowledge of MPF Program, MPF Xtra, Fannie Mae servicing requirements, or similar investor/agency servicing standards preferred.

• Proficiency with Microsoft Office applications; Access, Tableau, or other servicing/reporting tools preferred.

• Self-directed, organized, and able to manage multiple reviews, deadlines, stakeholders, and follow-up items simultaneously.

• Strong analytical and critical-thinking skills with the ability to evaluate data, identify trends, assess risk, and develop practical recommendations.

• Strong written and verbal communication skills, including the ability to clearly explain servicing requirements, observations, and remediation expectations to PFIs, servicers, internal partners, and management.

• Ability to facilitate meetings, interviews, training sessions, and presentations with small and large groups, including senior management and external stakeholders.

• Customer-service oriented, collaborative, and skilled at building effective working relationships across departments, Home Loan Banks, PFIs, servicers, and third-party providers.

• Detail-oriented while maintaining awareness of broader program, compliance, operational, and customer experience impacts.

• Able to work independently and in a team-based environment, adapt quickly to changing program requirements, and support continuous improvement in a fast-paced servicing environment.

The Perks

At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.