FHLB Des Moines Highlights
FHLB Des Moines Affordable Housing
Program
Application
Period Closed
We appreciate your interest in the
FHLB Des Moines Affordable Housing
Program. The application period is
now closed.
If you have any questions, please
contact our Community Investment
Department at 800.544.3452, ext.
1173.
Weekly Market Update
Wednesday’s FOMC announcement was
the primary focus of the market last
week. The Federal Reserve left its
key policy rate unchanged in a range
of 0.0% to 0.25% at the conclusion
of its June policy meeting. Click
here for additional market
commentary.
Letter to Members
FHLB Des Moines is pleased to
announce the completion on June 24,
2009, of a bulk sale of more than
14,000 mortgages from its Mortgage
Partnership Finance® (MPF®)
portfolio with a total outstanding
principal balance of $2.12 billion.
As part of the Bank’s ongoing
efforts to support mortgage lending
by its members, these mortgages were
sold to Fannie Mae in order to
reduce the proportion of fixed rate
mortgage assets on the Bank’s
balance sheet and, thereby, to
reduce its exposure to changing
interest rates and the costs
associated with mitigating market
risk. Please read the
announcement.
®
Mortgage Partnership Finance and MPF
are registered trademarks of FHLB
Chicago.
Independence Day Holiday
Due to the Independence Day holiday,
the bond market will be closed on
Friday, July 3, 2009. The market's
closing impacts the Bank's product
availability and pricing, therefore,
the only advances we will be
offering Friday, July 3, will be Fed
Funds advances and Fed Funds
repayments. Fed Funds
advance requests may be made through
eAdvantage or by contacting the
Money Desk as normal.
In addition, the MPF Service Center
supporting both Traditional MPF
products and the MPF Xtra Product
will not be accepting Loan
Presentments, Delivery Commitments
or Fundings on Friday.
Wire transfers will follow normal
business hours on Friday, July 3.
The Bank will resume normal business
hours on Monday, July 6, 2009.
Please contact the Money Desk at
800.544.3452, ext. 1013, if you have
any questions.
Office of Finance Announces First
Quarter 2009
Combined Operating Highlights
for the Federal Home Loan Banks
On Friday, June 12, the FHLBanks of
Pittsburgh and Topeka each filed a
first quarter 2009 Form 10Q with the
SEC. On Monday, June 15, the Office
of Finance announced first quarter
2009 combined operating highlights
for the FHLBanks. These highlights
have been prepared from unaudited
financial information of each
FHLBank. The First Quarter 2009
Combined Financial Report for the
FHLBanks is expected to be filed
with the FHFA and available on the
Office of Finance web site as soon
as is practicable. Please read the
Office of Finance Combined Operating
Highlights
press release.
FHLB
Des Moines Announces $1.0 Million in
Funding to New Homebuyers
On May
30, 2009, FHLB Des Moines announced
grants totaling $1.0 million were
recently awarded to 21 community
financial institutions to help
individuals and families achieve the
dream of owning their own home. As
part of
Congressman Leonard L.
Boswell’s Home Mortgage Educational
Exhibition, the Bank shared
information about the Urban
First-time Homebuyer Fund which
provides down payment, closing cost,
counseling or rehabilitation
assistance to households purchasing
owner-occupied units in urban
communities. For more information
and full listing of the 2009
recipients, click
here.
To read the press release
for each state in the Bank's
district, go to our Announcement / Publications or click
here.
U.S. Representative Betty McCollum
and Bremer Bank Announce New Funds
to Aid
Foreclosure Recovery Efforts
Congresswoman Betty
McCollum (D-MN) announced $250,000
will be distributed by Bremer Bank
in the Minneapolis and St. Paul area
to assist first-time homebuyers
during a press event
on Thursday, May 28,2009.
These funds are part
of the FHLB Des Moines Urban
First-time Homebuyer Fund and
include more than $123 million in
funding that Bremer has received
from FHLB Des Moines to assist
low-to-moderate income families and
individuals in purchasing a home.
Taking part in the event were
Congressman McCullum, FHLB Des
Moines staff, including Richard
Swanson, President & CEO, FHLB Des
Moines, Steve Meads, President,
Bremer Bank Twin Cities and first
time homebuyers Jesse & Nikki
Roggenbuck. For additional details,
please read the following
press release
or click
here for photos from the event.
The
Urban First-time Homebuyer Fund
supports efforts to provide
permanent housing to families and
individuals at or below 80 percent
of the area median income in
communities with a population of
25,000 or more. Twenty-one FHLB Des
Moines members were awarded a total
of $1.0 million in 2009. For a
complete listing of recipients or
for additional details about our
Urban First Time Homebuyer Program,
please click
here.
FHLB Des Moines
Community Banking DVD
Community banks have been
the economic foundation for
consumers and small businesses
across the Midwest for decades. And
though times are tough, banks
continue to lend, proving to their
customers that they are worthy of
their trust and will be there when
people need them most.
FHLB Des Moines set out to tell the
positive community banking story by
creating a DVD entitled,
Community Banking, A Partnership for
Tomorrow. The finished piece
includes commentary from nine member
banks, economic development
directors and community members. To
request a copy by mail, please
complete our
online form.
Notes:
To enhance your visit to this site,
we recommend Internet Explorer 4.01
or above. Click
here to download the latest
version of Internet Explorer. There
are several files that require an
Adobe Acrobat reader. All are
available free of charge to be
downloaded from the web.
If you have
questions or comments about this
site, please email them to the FHLB
Des Moines
webmaster or
call the Communications Department
at 800.544.3452.
Copyright © 1998 - 2009 Federal Home
Loan Bank of Des Moines. All rights
reserved. This material is provided
as general information. The terms
and conditions related to the FHLB
Des Moines' products and services
are governed by various agreements
between the FHLB Des Moines and its
customers as well as certain FHLB
Des Moines policies and applicable
regulations. In the event of any
inconsistencies between this website
material and the agreements,
policies and regulations, the terms
of such agreements, policies and
regulations shall be determinative.
Only member institutions and certain
eligible financial institutions may
transact business with the Home Loan
Bank.
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