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COLLATERAL QUARTERLY
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Nov 7, 2019 | Q4 2019
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eNotes Myth vs. Fact
How well do you understand eNotes? We’ve put together a few common misunderstood characteristics of eNotes legality, transferability and validity.
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eNotes Trends
In September, several eNotes industry professionals presented to FHLB Des Moines staff and shared the following data regarding the rise in number of eNotes registered on the MERS® eRegistry.
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Employee Feature: Don Willits
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This quarter, FHLB Des Moines wanted to say thank you to one of our senior analysts, Don Willits, who has been a valued member of the Collateral Field Staff for more than 19 years. Don is officially retiring on November 15, but we wanted to reflect on the great work he has accomplished and the many connections he has made with members across our district.
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Underwriting Assessment Matrix Changes
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As part of collateral verification, FHLB Des Moines reviews the underwriting for pledged loans. As of October 1, 2019, changes were made to the Underwriting Assessment Matrix.
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Eligibility Spotlight: Shared Collateral Rights
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Critical to successful collateral management at both wholesale and retail levels is the awareness of which creditor has rights to what collateral. This is a common risk management issue both for our members (on your loans) and for the Federal Home Loan Bank of Des Moines. Learn more about this eligibility criteria including a more detailed example of a collateralized swap.
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Collateral Reminders: Quarterly Borrowing Base Certificate (BBC)
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Did you know? Members can
submit BBCs as frequently as they wish during a calendar quarter. Common reasons members may re-submit:
- To increase your borrowing capacity in order to utilize the Bank’s products;
- To correct an error in a previously submitted BBC;
- To change or remove collateral currently pledged; and
- To re-report when a portfolio of loans previously pledged to the Bank was sold.
Blanket APSA members pledging eligible loans through a BBC need to following standard reporting according to the
BBC Submission Schedule (quarterly) in order to ensure no removal of Advance Equivalent Value of pledged collateral.
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✔ REMINDER:
Quarterly Borrowing Base Certificate (BBC) Reporting Deadline is:
Friday, November 15th
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Safekeep Direct: The Secure, Self-Service Portal for Member Management
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The Bank is excited to announce the launch of our new safekeeping portal, Safekeep Direct. Safekeep Direct is a secure, self-service portal for member management of security settlements, custody reporting and custodial pledging. It offers our safekeeping users enhanced technology, faster data, real-time access and improved custom reporting. Members will utilize Safekeep Direct for all of their custody business, including pledging of security assets to the Bank as collateral.
A Safekeep Direct Resource page is available within the
eAdvantage footer. This resource page houses all things Safekeep Direct, from training guides to templates to how to videos, we've compiled all the resources you'll need to successfully transition to Safekeep Direct. Please note, your eAdvantage login credentials are needed to access this page.
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