Member Products Policy -
Revisions to MPP effective May 1,
2011
The Member Products Policy was
recently amended by the Board of
Directors. The changes include:
- Members under a Specific
APSA will be able to pledge
first lien commercial and
agricultural real estate loans
without having to deliver the
loans to the Bank or a custodian
(p. 12).
- The approval process for a
member that wants to become a
PFI in the MPF program has been
streamlined (p. 21).
- Members that are PFIs will
be able to have master
commitments over a 12-month
period totaling $250 million,
which is an increase from the
previous maximum of $100 million
(p. 22).
- The Bank now has the ability
to vary prices for MPF products
to meet its risk-adjusted
profitability targets (p. 22).
- Definitions have been added
for owner-occupied vs. non-owner
occupied commercial real estate
loans (p.27).
The MPP also has been amended to
state that the Bank will extend
credit to a member based on the
Bank’s assessment of a member’s
creditworthiness and that the Bank
will not extend credit to a member
in excess of 35% of a member’s
assets unless an exception has been
requested and granted (p. 6).
For questions about the MPP
revisions, contact VP/Senior Credit
Risk Officer Alden Stout, at
800.544.3452, ext. 1054 or by email
at
astout@fhlbdm.com or your vice
president, member services
representative.
Collateral Procedures
The Bank's Collateral Procedures
provide instructions for our members
to efficiently access the Bank's
products. For a copy of our
Collateral Procedures please see the link
above.
If you would like to pledge
collateral, please visit our
Collateral page. Contact
our
Collateral Operations
Department at 800.544.3452, ext.
5408 with any questions regarding
the Collateral Procedures
or Member Products Policy.
The Member Products Policy, Anti-Predatory Lending
Policy and the Collateral
Procedures are PDF documents. Please
contact the
webmaster, 800.544.3452, ext.
1101 with any problems with either
document.
