Doug joined FHLB Des Moines on July 8th after serving as Member Collateral Verification (MCV) analyst in 2012 then Manager since 2013 at FHLB Chicago. His goals at FHLB Des Moines include “improving the efficiency of the MCV process and helping shape the overall member experience related to collateral.”

Doug is inspired by learning about the local economies in which community banks operate. When reviewing a rural financial institution, he’ll often go to a local diner early in the morning for breakfast just to hear the local farmers talk.

“It keeps me grounded and reminds me borrowers are key stakeholders in our business,” Hollmann said.

Changes to how members self-report Subprime and Non-Traditional loans became a requirement effective January 2, 2019.  As part of your next MCV, members pledging 1-4 family first mortgage loans that have not broken their loans out into these additional collateral types (1102 if pledging nontraditional; 1103 if pledging subprime) will find that by not reporting accurately to the correct type codes may affect their eligibility factor results.

When pledging or reporting 1-4 family first mortgage loans, members must enter their net eligible totals for the Bank’s definition of nontraditional and subprime. The definition and requirements of subprime and nontraditional loans can be found in the Eligibility Checklist. The amounts entered should reflect the actual totals of each loan level you are pledging, not an estimation.