News by "member announcements"

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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. Updated Down Payment Agreement 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. CEO Newsletter 10/02/2020 Member Announcements CEO Newsletter 10/02/2020 Take a moment to think back to what you were doing in 1990. Many of you may have been starting a career or already had an established career in the financial services industry, and things looked much different at that time. The introduction of Fintech changed the financial landscape dramatically. New Collateral Process to Address Eligibility and Reporting Errors 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. HELOC Collateral Eligibility Update Effective Oct. 1 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. CEO Newsletter 7/11/2020 Member Announcements CEO Newsletter 7/11/2020 We've seen many things over the last 75+ days, both good and bad and we've felt a range of emotions, some we may never have experienced before. If there's one thing that's remained true throughout this trying time it's that hardship is always easier to navigate with support. LIBOR Advance and Collateral Reporting Changes Effective July 1 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. Updated Collateral Loan-to-Values Effective July 13 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. Now Accepting PPP Loans as Eligible Collateral 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. CEO Newsletter 4/22/2020 Member Announcements CEO Newsletter 4/22/2020 Hello everyone! I'm excited to be connecting with you through my first ever Letter from the CEO. I'm Kris Williams and I'm thrilled to be your new President and CEO. I was very much looking forward to meeting as many of you as possible but with our current environment, I'll use this letter as a way Special Relief Funding Available for Members 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. Collateral Reporting Change Effective July 1, 2020 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.