Federal Home Loan Bank of Des Moines Participating Financial Institutions (PFIs) have consistently sold loans into the MPF Program that are of good credit quality. This type of track record has led the Bank to reduce its MPF Credit Enhancement (CE) requirement so that it more accurately reflects the expected performance of MPF loans. As a result, your share of the CE obligation exposure could decrease. As a PFI with Master Commitments closed longer than six months you are eligible to take advantage of this exciting reduction by completing the following action steps:
1. Review the attached letter(s) in conjunction with the reference below to determine if this opportunity is beneficial to your institution.
2. Sign the attached letter and return it to firstname.lastname@example.org by March 25, 2019.
3. Notify your accounting department of the $500 fee per Master Commitment.
If you need further assistance, please review the resources below.
If you choose to take part, letters must be returned to the FHLB Des Moines Mortgage Products Group by March 25, 2019.
Questions? Please feel free to contact our Mortgage Product Group at any time.