News by "Business News"

Business News Public Announcements 2020 Holiday Hours The holiday season is upon us and with that comes amended hours. Business News Member Announcements Changes to Underwriting Assessment Matrix - 2020 As of October 5, 2020, several changes were made to the Underwriting Assessment Matrix used in collateral reviews. Business News Member Announcements Updated Down Payment Agreement In order to access FHLB Des Moines Down Payment Products in 2021, all members must sign an updated Affordable Housing Program Subsidy Agreement for Homeownership Down Payment Products by December 31, 2020. Business News Member Announcements New Collateral Process to Address Eligibility and Reporting Errors We frequently monitor for trends or patterns in reporting errors in Member Collateral Verifications (MCV) and/or in collateral pledging and may initiate additional action steps to help ensure collateral eligibility and/or reporting get back on track. Business News Member Announcements HELOC Collateral Eligibility Update Effective Oct. 1 FHLB Des Moines has defined clarification guidance related to Convertible Home Equity Lines of Credit (HELOC) loans (also known as Hybrid HELOCs) as collateral. Business News Public Announcements Federal Home Loan Bank of Des Moines Announces Executive Team Changes FHLB Des Moines announced changes to its executive management team. Business News Member Announcements LIBOR Advance and Collateral Reporting Changes Effective July 1 In preparation for the phase out of the London Interbank Offered Rate (LIBOR), changes to advance products and collateral reporting tied to LIBOR will go into effect on July 1, 2020. Business News Member Announcements Updated Collateral Loan-to-Values Effective July 13 On July 13, 2020, FHLB Des Moines will implement revised LTVs for most collateral categories. Business News Member Announcements Now Accepting PPP Loans as Eligible Collateral Beginning Tuesday, May 19, 2020, the Bank is now able to accept SBA Payment Protection Program (PPP) loans as collateral. Business News Public Announcements Deborah Baldwin Named FHLB Des Moines Chief Diversity and Inclusion Officer Effective May 18, Deborah Baldwin will become the new chief diversity and inclusion officer at the Federal Home Loan Bank of Des Moines. Business News Member Announcements Special Relief Funding Available for Members In response to the coronavirus (COVID-19) pandemic, Federal Home Loan Bank of Des Moines has a special advance offering available for our members. These advances are intended to provide low cost, relief funding to help support the current needs of your customers who have been impacted by COVID-19. Business News Member Announcements Collateral Reporting Change Effective July 1, 2020 With the expected phase-out of LIBOR at the end of 2021, FHLB Des Moines has made a change to its collateral reporting process beginning July 1, 2020.