News by "Business News"

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. Business News Member Announcements Underwriting Assessment Matrix Changes As part of collateral verification, the Bank reviews the underwriting for pledged loans. Preferably, all loans are fully documented to market expectations. Via the Underwriting Assessment Matrix, we are able to provide lendable value to less than fully documented loans at an appropriate discount. Business News Member Announcements FHLBank System Regulator Provides LIBOR Transition Guidance The financial markets are preparing for the expected phase-out of the London Interbank Offered Rate (LIBOR) by the end of 2021. Business News Public Announcements Applicant Tracking System Changes On Sept. 9, 2019, our applicant tracking system changed. If you've recently applied for a position, here's what you need to know and do. Business News Member Announcements FHLBanks Surpass $100 Billion in SOFR-linked Issuance The Office of Finance announced that the Federal Home Loan Bank System has issued over $100 billion in SOFR-linked securities since its first issuance in November of last year. Business News Public Announcements FHLB Des Moines urges Congress to hold hearings on CECL Industry experts agree: The Current Expected Credit Loss (CECL) accounting standard proposed by the Financial Accounting Standards Board will be highly problematic for financial institutions. FHLB Des Moines agrees and recently encouraged Congress to hold hearings on CECL. Business News Member Announcements Updated Collateral Loan-to-Values On June 24, 2019, FHLB Des Moines will implement revised LTVs for most collateral categories. The Federal Home Loan Bank of Des Moines periodically reviews our collateral Loan-to-Values (LTVs) to ensure they are consistent with the current market environment.