News by "Business News"

Business News Public Announcements FHLB Des Moines Expands Supplier Diversity Program through an Online Bidding Platform We are expanding our Supplier Diversity Program. Earlier this month, we began accepting bids online for open contracting opportunities to strengthen our connection with diverse suppliers from across our district. Business News Member Announcements COVID-19 Preparedness At FHLB Des Moines, we are closely monitoring developments around coronavirus (COVID-19). Our priority remains the safety of our members and our employees. Business News Member Announcements 2020 Stock Recalculation Notice Each year, FHLB Des Moines reviews our members' total assets to determine capital stock requirements for each individual member. Learn more about this process now. Business News Public Announcements Kevin Larkin Named FHLB Des Moines Chief Information Officer Effective March 23, Kevin Larkin will become the new Chief Information Officer at the Federal Home Loan Bank of Des Moines. Business News Member Announcements Expanded Advance Product Terms Effective Tuesday, March 10, 2020, FHLB Des Moines has extended final maturity terms for Forward Starting Fixed-Rate and Member Option Fixed-Rate advances. 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. 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.