Federal Home Loan Bank | Des Moines
eNotes Updates
Webinar Recording Now Available!
A Spotlight on eNote Processes for Federal Home Loan Bank Members

During this webinar, Vonda Renfrow, vice president/director collateral management, along with representatives from MERSCORP Holdings shared information about key eNote concepts, requirements for pledging eNotes as collateral to the FHLBanks and steps needed to be eligible to pledge your eNotes. They also provided information about MERS® System Membership requirements, including a type designed for Federal Home Loan Bank members. 
eNote Usage Continues to Climb
In October, a record 66,575 eNotes were registered on the MERS® eRegistry, and from January through October 2020, 352,978 eNotes have been registered, a 269% year-over-year increase. 
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Image source: October 2020 edition of the eMortgage Insider from MERSCORP Holdings, Inc.
Receive updated eNote data and other industry news in your inbox every month by subscribing to the MERS eMortgage Insider

MERS® has developed specific resources and information to assist FHLBank members with implementing eNotes at your organization. Learn more at:  mersinc.org/fhlb

Employee Feature: Janette Thede, Collateral Manager

Janette Thede might have just stepped into her new role as Collateral Manager in August, but she has 34 years of valuable experience working at FHLB Des Moines in various positions. Get to know Janette more in our quarterly employee feature!
Underwriting Assessment Matrix Updates
As part of collateral verification, FHLB Des Moines reviews the underwriting for pledged loans. As of October 5, 2020, changes were made to the Underwriting Assessment Matrix. We've outlined these changes in our Member News.
Helpful Reminders for Collateral Pledging and Reporting
If you submit a monthly loan listing file please verify you are using the NEW General File Format 

In July, the General File Format for Loan Listing was updated to include a new "Rate Index" column. This addition was made to capture the referenced index for adjustable-rate loans pledged to FHLB Des Moines. This column must be included for all members using the General File Format, even if adjustable rate loans are not pledged.
BBC Preview
New Getting Started Guide: Borrowing Base Certificates (BBC)
We released new updates to the BBC in eAdvantage to improve functionality for our members. These new features include:
  • The BBC will preselect collateral types for you based upon your previous quarter’s submission.

  • You can more seamlessly enter information for multiple type codes on one screen.

Navigate the new features of the BBC with our updated "Getting Started Guide."
The Quarterly BBC Reporting Deadline is Friday, November 13.
Supporting Members through COVID-19
We have temporarily adjusted our eligibility guidelines on pledged collateral to align with our member financial institutions who are implementing loan forbearance or loan modifications agreements for their borrowers, including the acceptance of agreements executed with electronic signatures.

Top Frequently Asked Question: For those offering payment deferral to borrowers following the forbearance period, what documentation is required to maintain collateral eligibility?

Payment Deferral: Forborne funds collected at the end of the loan term, with no other change in terms.
Evidence of borrower acknowledgement and acceptance is required, and the agreement should be delivered to the Bank’s custodian where loan delivery is required. No signature of the borrower is required, provided there are no changes in the terms of the original note, however, payment deferral without borrower signature will result in lower valuation of impacted loan collateral.

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