Please Note: Effective
immediately, if you are
contemplating pledging warehouse
loans for the first time, please
contact the Collateral Operations
staff first.
If you have questions, please
contact
Collateral Operations or call
our Collateral Department at
800.544.3452, ext. 5408.
All completed collateral forms
must be signed and can either be
faxed to 515.699.1201 or emailed to
advancecollateral@fhlbdm.com. Unless specified all
documents are in Word.
Important Notice Sometime in 2010, the
Bank will be transitioning from
Collateral Maintenance Level (CML)
discounts to Loan To Value (LTV)
ratios on mortgages and securities
pledged for collateral to determine
advance equivalent value. The LTV
calculationis merely the inverse
of the current CML. For example, a
CML of 150% equates to a LTV of 67%
(1/150%).The “CML” sheet found
in the
Schedules
and Fees Section
has been revised to include the LTV
ratios together with each CML factor
to familiarize members before the
change takes place.The Bank will notify
the membership in advance, when the
LTV ratios will go into effect.
In order to pledge
retained or purchased
participations, each
member must complete and
submit all appropriate
documentation to the
Bank’s Collateral
Department.
Instructions, a
Participation Loan
Information Sheet and
sample Participation
Acknowledgement Letter
are available below.
