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

Who we are

Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities. Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.

What it’s like to work here

At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided with an allocation of remote days to use as needed throughout the year.

What you’ll do

This role supports the MPF Program by conducting MPF Xtra Servicing Only Mortgage Operations Review and Evaluation (MORE) reviews and related servicing oversight activities. The position evaluates Participating Financial Institutions (PFIs), servicers, sub-servicers, and applicable third-party providers to help confirm operational readiness, servicing capability, and alignment with MPF Xtra, Fannie Mae, and MPF Program requirements. The role also identifies training opportunities, communicates review findings, supports remediation follow-up, and helps strengthen servicing practices across the MPF Xtra portfolio.

How you’ll make an impact

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.

Salary Range

$75,325.00 - $125,500.00 The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc