Callateral Quarterly FHLBDM

February 8, 2018 | First Quarter

Quarter In Review Notes From the Field What Are We Working On

Quarter In Review

Reminder on Eligibility Adjustment

Effective January 2, 2018, Payment Status criteria changed to Not more than 30 days past due for the following collateral types:

  • 1414 Home Equity 1-4 Family Residential Loans (closed end);
  • 1423 Home Equity Lines of Credit – First Lien;
  • 1424 Home Equity Lines of Credit – Second Lien. 

Notes From the Field

Circle Thursday, February 15th on Your Calendars

Will your financial institution be ready to access a line of credit when you need it? Ensure you are maintaining sufficient eligible collateral by keeping your Borrowing Base Certificate and monthly loan listing updated by the due dates. Updates to both the quarterly BBC Form and the monthly loan listing file are due on Thursday, February 15, 2018. Authorized users can log onto eAdvantage to complete updates.

1. Update Quarterly BBC Form for the December 31, 2017 Quarter-End

BBC Forms are required every calendar quarter. Members can begin completing and submitting online BBC Forms shortly after the start of each new quarter. FHLB Des Moines permits its members to submit their forms within the first 45 days of each quarter. 

2. Update Monthly Loan Listing File for the January 31, 2018 Month-End

Loan listing updates are required on the 15th day after each month-end. Members can check their collateral position and view their updated borrowing capacity two hours after submission.

View Submission Schedules
for BBC's and Loan Listings


Reminder When Pledging 1-4 Family Residential Loans

When pledging 1-4 family loans, take a close look at the eligibility checklists to make sure you are pledging correctly. One of the most common collateral reporting errors we come across is non-owner occupied (i.e. rental) 1-4 family residential loans being pledged as Commercial Real Estate.

Loans secured by 1-4 family residential properties, no matter what type of borrower (individual, LLC, Corp. etc.), can only be pledged in the appropriate 1-4 family type code (first mortgage, home equity, HELOC, etc…)

Not only does the rental property loan generate higher advance capacity by reporting as 1-4 family loan collateral, the reporting to FHLB Des Moines as 1-4 family should be in line with call report requirements (you should check with your regulator for confirmation). Similarly, second homes should also be pledged as 1-4’s family residential.   

As per the eligibility checklists, loans secured by properties that are a bare lot/land, uninhabitable, three season, co-ops, environmentally challenged, or unlawfully used are not eligible. Call us with questions on other residential loan types.

What Are We Working On

New Participation Loan Guidelines

New participation loan guidelines will be coming out shortly. Once available, members will be able to access the new guidelines on the FHLB Des Moines Members Site.

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© 2018 Federal Home Loan Bank of Des Moines. All Rights Reserved
801 Walnut Street, Suite 200, Des Moines, IA 50309

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