Federal Home Loan Bank of Des Moines

Skywalk Level

801 Walnut St., Suite 200

Des Moines, Iowa 50309-3513

Federal Home Loan Bank of Des Moines Member Collateral Verification

To: / From:
Company: / Date:
Fax Number: / No. of Pages Including Cover: 7
Phone Number: / Phone Number: 800.544.3452, ext. XXXX
Fax Number: 515.699.1201

, Collateral Analyst recently arranged a Member Collateral Verification (MCV) for your institution. This review is scheduled to start on and will use data prepared as of .For monthly listed portfolios with FHLB Des Moines we will use your most recent submission.

During this review the Analyst will need an internet connection and this document also details theother information needed by the Federal Home Loan Bank of Des Moines prior to the start of the MCV. To ensure the timely completion of the MCV, please return all requested informationno later than.

Items in this Packet

  • Internet Connection Requirements
  • Required Information List
  • Instructions for Electronic Loan Lists
  • Member Contact Information
  • Summary of Member Corporate Structure
  • Fee Schedule

Information affecting the MCV including Collateral Maintenance LevelsCMLassigned to all pledged collateral and the Underwriting Assessment MatrixUWA, are available through our Public Website. Members who use lien protection policy products to meet title work eligibility requirements are required to submit a Lien Protection Policy Approval Checklist which is also available through our Public Website at LPP.

Having the internet connection, as well as the files and other documents pertaining to the selected loans ready prior to the analyst’s arrivalwill expedite the review time.

Please email any questions or concerns r contact me by phone at 800.544.3452, ext.XXXX.

Sincerely,

Collateral Specialist

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Federal Home Loan Bank of Des Moines

Member Collateral Verification (MCV)

Required Information List
Internet Connection Information:
  1. Type of Connection: Wired or Wireless
  2. Security Information you require
  3. Access to the following ports: 433 HTTPS, 500 UDP, 4172 TCP/UDP, 4500 UDP, 10000 TCP

Electronic lists of loans that equal the Net Eligible Loans reported on each portfolio to be reviewed. (See attached instructions)
List of assets classified as Substandard, Doubtful or Loss.
List of Loans Not Fully Disbursed
(Not applicable for One-to-Four Family Construction loans, HELOC’s, Secured Business Lines of Credit, and Secured Agri-business Lines of Credit)
List of loans to employees, officers, directors, attorneys or agents of your institution or the Federal Home Loan Bank of Des Moines.
List of loans more than 90 days delinquent (or 30 days for Secured Business Lines of Credit, Agri-Business Lines of Credit, and One-to-four family - Construction)
A “key” to your loan types and/or class codes
Summary of Member Corporate Structure. (attached)
Member Contact Information (attached)
Copy of all executed Servicing Agreement(s) for loans and contact details of Servicer
Copy of executed loan and/or securities custodian agreement(s)
An Electronic list of all loans and/or Securities pledged to entities other than FHLBDM (See attached instructions) and a copy of the executed Agreement(s) with other creditors (i.e. Federal Reserve Bank (FRB), Corporate Credit Union (CCU), or Correspondent Banks, etc.
Copy of all Alternative Title Verification product(s) or Lien Protection Policy executed contract(s) if applicable.
A completed copy of this Required Information list.
Reviewed Portfolios
One-to-four family – 1st lien / One-to-four family – Held for Sale
One-to-four family Participation–1st lien / One-to-four family – 2nd lien
Multi-family real estate – 1st lien / Home Equity Line of Credit (HELOC)
Multi-family Participation – 1st lien / Secured Business loans
Agricultural Real Estate – 1st lien / Secured Agri-Business loans
Agricultural RE Participation – 1st lien / Secured Business lines of credit
Commercial Real Estate Owner Occupied – 1st lien / Secured Agri-Business lines of credit
Commercial Real Estate Non-Owner Occupied – 1st lien / USDA Govt Guaranteed Loans
Commercial RE Participation Non-Owner Occupied – 1st lien / VA Govt Guaranteed Loans
Commercial RE Participation Owner Occupied – 1st lien / FSA Govt. Guaranteed Loans
Student Loans / FHA Insured

Instructions for Electronic Loan Lists

FHLB Des Moines requires MCV loan portfolio listings to be submitted in a CSV Comma Delimited format or an Excel format. The required data fields for the MCV process are listed below.

MCV information should be submitted via FHLB Des Moines secured transfer website, your institution’s secure file transfer website, or through a password protected email. Using the FHLB Des Moines secure transfer website may require initial setup, if interested please contact at 1.800.544.3452 ext. XXXX.

  1. Each loan must have required data fields in separatecolumns. Below is the list of required MCV data fields:
  • Branch Number
  • Loan Number
  • Borrower’s Name
  • Original Loan Date
  • Acquisition Date
  • Maturity Date
  • Original Loan Amount
  • Unpaid Principal Balance
  • P&I Payment
  • Current Interest Rate
  • Rate Code
  • Last Payment Date
  • Next Payment Date
  • Payment Frequency
  1. Line item deductions identified when updating pledged loan types should also be identified in the loan listings. The electronic loan lists totals must balance with the Net Eligible Loan amounts pledged to FHLBDM.
  1. Electronic list of Loans and Securities pledged to Third Party Creditor(s) need to be submitted and include the fields listed below either in a CSV Comma Delimited format or an Excel format. This file should be submitted separately from the MCV electronic loanlist above.

Member Number / Loan Number / UPB / Original Loan Date or Issue Date / Original Loan Amount / CUSIP / Amount Pledged / Pledged To
1234 / 1234abcd / 5000000 / 10/22/2010 / 10000000 / FRB STL
1234 / 10/30/2003 / 1234XYZ12 / 25000000 / FRBC

Member Contact Information

General Information

Member Name: / Member #:

Contact Person Coordinating MCV

Name: / Title:
Address:
City: / State: / Zip:
Phone: / Fax:
Email address:

Contact Person at Branch (if different)

Name: / Title:
Address:
City: / State: / Zip:
Phone: / Fax:
Email address:

Please complete and return this form to:

Federal Home Loan Bank of Des Moines

Skywalk Level

801 Walnut Street, Suite 200

Des Moines, IA 50309

T 800.544.3452, ext.XXXX

F 515.699.1201

MCV Email:

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Federal Home Loan Bank of Des Moines

Member Collateral Verification (MCV)

Summary of Member Corporate Structure

  1. Please provide a corporate organization chart (not an internal employee organization chart) for your institution. If it is more convenient, feel free to substitute a narrative description of your institution’s corporate structure. Regardless of the format you chose, please ensure that the following entities are identified:
  1. Parent company or companies
  2. Subsidiaries
  3. Affiliates

If any of the assets pledged to the Federal Home Loan Bank of Des Moines are held by a mortgage lending subsidiary, real estate investment trust, or another similar entity, please contact Chris Baker, Collateral Review Manager, by email at or by calling 800.544.3452, ext. 3341. FHLB Des Moines may require additional documentation for such pledged assets.

Fee Schedule

MCV reviews are provided to our members as a free service except in the following circumstances:

  • Travel: MCVs requiring visits to multiple locations will be charged a rate of $50 per hour for travel plus lodging, meals, airfare, and other travel-related costs.
  • Additional or Unscheduled MCVs: Members receive 120 hours free toward their MCV review per calendar year. Fees for time spent on a member requested additional or unscheduled MCV during a calendar year will be charged at a rate of $100 per hour.
  • Non-electronic Loan List: If loan lists are not submitted electronically a fee of $200 per loan portfolio will be charged.

An invoice detailing applicable fees will be prepared and mailed shortly after completion of the final MCV report. Unless prior arrangements have been made, the fee will be debited from your demand deposit account at the FHLB Des Moines on the date indicated on the invoice.

Questions regarding the fee policy should be addressed to Chris Baker, Collateral Review Manager, by email at or by calling 800.544.3452, ext. 3341.

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