To release a lien once the retention period has ended, or to determine the amount of repayment during the five-year retention period, a title company should work with the Lender named on the Deed Restriction, or the Beneficiary on a Deed of Trust (a retention form not currently in use). For forms which show a Beneficiary instead of a Lender, please work with our Community Investment Department by sending a copy of the recorded Agreement to email@example.com.
In March 2018, FHLB Des Moines temporarily suspended the requirement for repayment of AHP/Down Payment Program subsidy awards in connection with the sale or refinance of an owner-occupied unit during the term of the homeownership Retention Agreement.
Effective January 1, 2020, the Repayment Requirement will be reinstated.
FHLB Des Moines has established new procedures and updated forms for lien releases, repayment or subordination of liens.
Please begin using these procedures and forms in the event of the sale or refinance of owner-occupied residences assisted with an AHP/Down Payment Program grant.
New procedures and forms are provided for:
View All Forms And Procedures
*Forgiveness of repayment: If a borrower sells their home to a low-to-moderate income household, their subsidy does not need to be repaid and the lien may be released. Additionally, subsidy repayment is terminated after any event of foreclosure, transfer by deed in lieu of foreclosure, an assignment of a Federal Housing Administration first mortgage to HUD, or death of the AHP/Down Payment Program assisted homebuyer.
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