Okay, this is my first article, so don't be surprised if it's not very good.
I know this will work in TGF, but i'm not sure if it will work in MMF.

Now. this effect will work as the game is playing, meaning that if you want the screen to fade to black after the player dies, or even in the middle of the game, It will work.

Now the first thing to do is create a 640x480 active object(or whatever the size your level/frame is set to) and make it completely white. Then, in the next frame of the animation editor, make the size the same size as the original one, but color it black. now go to the morphing editor, select the number of frames to morph between, and start it. So now you have an object that fades from white to black. good, but it's not finished yet. I'll just call this object "fader".

Click OK, and place the object somewhere on the screen.
Now, go to object preferences, and select AND for the ink effect.

Now go to the event editor, and put the following events:

Start of level: destroy "fader".

when # of lives reaches 0(or whatever other condition you want to use for the fade.): create fader at 0,0.

animation stopped has finished for fader: destroy.

so then if this works correctly, when your player dies,(or whatever condition you selected comes true), then the screen will fade out.

Thank you for reading this, and please tell me if there is anything wrong with it.