News

Finance News Public Announcements Fourth Quarter 2019 Earnings Release & Dividend The Federal Home Loan Bank of Des Moines (the Bank) today released preliminary unaudited financial highlights for the fourth quarter and year ended December 31, 2019. The Bank also announced its fourth quarter 2019 dividend. Business News Member Announcements LLPs Eligibility Criteria Changes The Bank is simplifying its criteria for acceptance of LPPs in lieu of traditional title work. LPPs are insurance products that reimburse lenders for losses realized from otherwise unknown superior liens. If an undiscovered superior lien on the property impairs the lender's ability to collect. Business News Member Announcements FHLB Des Moines to Gather LIBOR-Linked Collateral Information Beginning on January 1, 2020, members reporting loan collateral will be asked to complete a brief survey identifying LIBOR-linked collateral with maturities beyond December 31, 2021. Business News Public Announcements Kristina K. Williams Named President and Chief Executive Officer of the Federal Home Loan Bank of Des Moines The Federal Home Loan Bank of Des Moines (FHLB Des Moines) announced that its board of directors has named Kristina K. Williams president and chief executive officer (CEO) effective January 20, 2020. Business News Member Announcements Changes to Retention Agreement (Deed Restriction) for Home Purchase Projects The Competitive Affordable Housing Program (AHP) and Down Payment Product grants will be releasing a new Retention Agreement (Deed Restriction) effective for use with closings as of January 1, 2020. Business News Member Announcements Retention Agreement Changes for AHP Owner-Occupied Rehabilitation Projects Effective January 1, 2020, the FHLB Des Moines member institution or project sponsor of a Competitive Affordable Housing Project (AHP) may cease requiring a Retention Agreement (Deed Restriction) on owner-occupied rehabilitation projects. Business News Member Announcements Reinstatement of Repayment Requirement for Competitive Affordable Housing Program and Down Payment Products FHLB Des Moines has established new procedures and updated forms for lien releases, repayment or subordination of liens. Community News Public Announcements $51.5 Million in Affordable Housing Grants to Benefit More Than 2,600 Families and Individuals A collaborative effort between financial institutions and community housing providers will create affordable housing opportunities for more than 2,600 low-income families and individuals this holiday season. Finance News Public Announcements 2019 Stress Test Disclosure The Federal Home Loan Bank of Des Moines today made available the results of its annual stress test as required by its regulator, the Federal Housing Finance Agency. Finance News Member Announcements Q3 2019 Combined Financial Report The Third Quarter 2019 Combined Financial Report (CFR) for the FHLBanks has been published and filed with the Federal Housing Finance Agency. An electronic copy of the CFR can be obtained on the Office of Finance website. Community News Public Announcements Chris Perez Appointed to FHLB Des Moines Advisory Council FHLB Des Moines or the Bank recently appointed Christopher Perez, senior program officer, Rasmuson Foundation, to its Affordable Housing Advisory Council (Advisory Council) representing the state of Alaska. Business News Public Announcements Third Quarter 2019 Dividend and Election Results The FHLB Des Moines (the Bank) Board of Directors (the Board) has approved a third quarter 2019 dividend. Additionally, the Board reviewed the results of the 2019 Member and Independent Director Elections and are pleased to announce the winners.