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									FORM C-216 PTPN RES 1-4




                                         PARTICIPATION LOANS
                                RESIDENTIAL 1-4 FAMILY FIRST MORTGAGES
                     BORROWING BASE CERTIFICATE PLEDGED UNDER A BLANKET LIEN
        Notice: Before pledging this Type of Collateral, Bank Approval is required. See Instructions.
                                Form may be faxed to the Collateral Department: 515.699.1201

Member Name:                                                                         Member #:
City:                                               State:                 E-mail:
Contact Person:                                                     Title:
Phone:                                                              Fax:
Instructions to complete this form are available. Submit updates quarterly. Failure to remit updates within 45 days of
each quarter end may result in a temporary restriction in the member’s borrowing capacity until the Bank receives a
current form.


I. Date of Loan Balances (Quarter End):

II. PREPARING ELIGIBLE PARTICIPATION LOANS:
(1) A list of previously approved eligible Participation loans must accompany this form every quarter. The customer
should prepare a spreadsheet with a minimum of three columns of information as follows: (1) The Customer’s Loan
Number, (2) the Borrower Name and (3) Current Unpaid Principal.
(2) See Checklist-216 and the Ineligible criteria stated in Section II of the Instructions for eligibility.
(3) Please notify the Bank on the list attached if previously approved participations should be removed due to pay off, 100%
owned, etc.
Place the Net Eligible Amount from your internal list in Section III. Below:
III. NET ELIGIBLE RESIDENTIAL 1-4 FAMILY FIRST MORTGAGE PARTICIPATION LOANS. Please complete any
applicable lines below:

    Update:              +                                         Number of Updated:

    Newly Assigned: +                                              Number of Assigned:

    Released:            -                                        Number of lns released:

    Total pledged        $                                         Total number of loans



I certify that the loans summarized above comply with applicable laws and regulations and the Federal Home Loan
Bank’s Anti-Predatory Lending Policy.

Signed:                                                                          Date:

Name:                                                          Title:




                                            Form C-216 PTPN RES 1-4 – Revised January, 2010
INSTRUCTIONS C-216 PTPN RES 1-4
                                       PARTICIPATION LOANS:
                                RESIDENTIAL 1-4 FAMILY MORTGAGES –
                             INSTRUCTIONS FOR COMPLETING FORM C-216

Pre-Approval:
NOTICE: Before Participation loans for this type of collateral can be pledged for advances, a review of the loan
participation agreements is required. Please contact the Collateral Associate at 515-281-1145 for details
concerning this review.

Procedures After Approval:
The Borrowing Base Certificate form for Residential 1-4 family first mortgages in participations should be completed
and submitted to the Bank within 45 days of every quarter end. Failure to submit this form within the timeframe
allowed may result in a temporary restriction in the member’s borrowing capacity until the Bank receives a current
form.

Contact this department 1-800-544-3452 Ext. 5408 if there are any questions regarding this form.

Name and Address Section: Please complete the section as stated.

I.        Date of Loan Balances

Fill in the As Of date equal to the unpaid balances of the loans. Quarterly updates should use most current quarter
end date. Interim assignments may use a current date for unpaid principal balance.

II.       Preparing Eligible Participation Loans:

Prepare a list of the loan numbers, having at least three columns; the borrower name, loan number, and unpaid
principal for the loans that were approved by the Bank, see example. Attach the list to the BBC form and fax both to
the Bank.

      Customer Loan Number                Borrower Name                                  $ Unpaid Principal Balance

Ineligible Criteria:

        1. Loans not fully disbursed or non-amortizing, means the qualifying 1-4 family first mortgages must have
           regularly scheduled principal and interest payments. Construction loans, single-pay/interest only or lines
           of credit loans (LOC) do not qualify.

        2. Loans must not be over 90 days past due on either their principal or the interest.

        3. Subtract loans in the residential 1-4 family first mortgages group if they are currently classified as
           substandard, doubtful or loss either internally or by the member’s regulatory agency.

        4. Subtract all loans to employees, directors, officers, attorneys (full, part time or those secured as
           consultants) or agents of the member or the Bank. (A list of Bank employees will be provided only if the
           Bank deems it necessary due to listing or delivery requirements and the member’s proximity to Bank
           offices).

        5. Whole loan (100%) interests in 1-4 Family residential real estate loans should not be reported as collateral
           utilizing this form. Please see Form C-204 and the Instructions for Form C-204 as well as Checklist-204 to
           determine if your institutions whole loan interest is eligible as collateral. If the member holds a 100%
           interest in any first mortgage loan, the balance must be entirely eliminated from this category of collateral.


                                Instructions C-216 PTPN RES 1-4 – Revised May 2009 – Type Code 11
INSTRUCTIONS C-216 PTPN RES 1-4

       6. Subtract all residential loans used to secure any indebtedness with any other lending institution. For
          example, if your institution has a borrowing agreement with the Federal Reserve Bank or a corporate
          central credit union, any residential first mortgages used to secure such indebtedness must be excluded
          from the eligible mortgages on this borrowing base form. Notify the Bank of any agreements that involve
          real estate property as collateral, to ensure double pledging of collateral is prevented.

       7. Loans temporarily held with intention to sell in the near future.

       8. The participation interest in the loan must not be subordinated to any other interest.

       9. Loans that do not comply with the Bank’s Anti-Predatory Lending (APL) Policy. See the APL policy on
          website.

       10. Loans owned by a Real Estate Investment Trust or a Subsidiary should not be reported as collateral. The
           Bank may permit the use of loans owned by a Real Estate Investment Trust or a Subsidiary under certain
           circumstances. Please contact the Collateral department for further information.

       11. Loans secured by lots or acreages not improved with habitable one-to four family dwellings are ineligible
           for pledging purposes and must be subtracted.

       12. Mobile homes not permanently affixed to the property are not eligible. All mobile homes on rental lots are
           excluded. Mobile homes that have become part of the deed of trust as improvements to the real estate may
           be included in this form.

       13. Loans included in any other Bank pledge form are to be excluded to prevent double pledging of the
           collateral. For example, institutions who have pledged residential loans on Form C-204 or Schedule C-
           221, must be excluded from Section III of this form.

III.    Net Eligible Loans:

This is the amount that is entered in the Bank’s Collateral database and will have the member’s discount factor
applied to determine advance equivalent value. The advance equivalent value is stated on the Bank’s “Statement of
Advance Collateral Position” on a daily basis on eAdvantage under the Collateral tab.

The form must be signed by either an officer or the person responsible for the information on the form

You may fax the form directly to the Collateral department’s fax number stated on the form, which is 515.699.1201.
If you experience repeated problems with our fax, please feel free to mail the form to our department (keeping a copy
for your records) or contact this department at 800.544.3452, ext. 5408, for an alternate fax number.




                               Instructions C-216 PTPN RES 1-4 – Revised May 2009 – Type Code 11
   CHECKLIST-216 PTPN RES 1-4




     RESIDENTIAL 1-4 FAMILY FIRST MORTGAGE PARTICIPATION LOAN ELIGIBILITY CHECKLIST
This checklist has been developed to assist members in determining which loans are eligible for pledging to the Home Loan Bank as 1-4 Family FIRST
Mortgage Participation Loan collateral. An answer in the gray shaded boxes for any question is an indication the loan does not qualify under Home Loan
Bank guidelines.
                                                  GENERAL ELIGIBILITY FACTORS                                                       YES       NO
  1. Is the loan a construction loan?
  2. Is the loan more than 90 days delinquent?
  3. Has the loan been classified as substandard, doubtful or loss either internally or by a regulator?
  4. Is the borrower an employee, officer, director, attorney, or agent of the Home Loan Bank or pledging institution?
  5. Is the loan 100% owned (does your institution own the entire loan)?                                                          Use Form
                                                                                                                                   CL-204
                                                                                                                                  RES 1-4
  6. Has the loan been pledged to secure other borrowings?
  7. Is the loan temporarily held (warehoused) with the intention to sell it in the near future?
  8. Is the participation interest in the loan subordinate to other interests?
  9. Has the Home Loan Bank reviewed the loan participation documents and given approval that this participation loan is
     eligible for pledging?
 10. If this is a purchased participation, is the servicer of the loan either an affiliate of your institution or a member of the
     Home Loan Bank of Des Moines?
 11. If your participation is a retained participation, is the Home Loan Bank in possession of a copy of the participation
     certificate, the note and the purchase and servicing agreement? OR If your participation is a purchased participation, is
     the Home Loan Bank in possession of the original participation certificate and copies of the note and purchase and
     servicing agreement?
 12. Does the loan comply with applicable laws and regulations and the Federal Home Loan Bank’s Anti-Predatory Lending
     Policy?
 13. Is the loan owned by a Real Estate Investment Trust or Subsidiary?                                                            See 14
 14. If the answer to question #13 is yes, has a Subsidiary Collateral Pledge and Security Agreement been executed?
                                                                  NOTE
 1. Is the original note or copy of the original note in file or available for review?
 2. Does the note require specified principal and interest payments to amortize the loan?
 3. Is the loan fully disbursed and without a revolving line of credit feature?
                                               MORTGAGE (or DEED OF TRUST)
 1. Is the recorded mortgage (or copy of the recorded mortgage) in file or available for review?
 2. Did all owners listed on the title work and their spouses (if applicable) sign the mortgage?
 3. Has the mortgage been properly filed of record in the county in which the property is located?
                                             TITLE INSURANCE/ABSTRACT OPINIONS
 1. Is the final title policy, attorney’s opinion, O & E, or detailed internal lien search or copy thereof in file for all loans
    greater than $25,000? (NOTE: preliminary title work acceptable for loans open less than six months while final title
    work is pending.)
 2. Was the final title work completed on or after the date the mortgage was filed?
 3. Does the final title work show the mortgage cited by the note as the first lien?                                                        See 4
 4. If the answer to #3 is NO, does the file contain a recorded satisfaction, subordination, or release for all prior liens?
                                                   REAL ESTATE PROPERTY
 1. Is there a habitable 1-4 family dwelling on the property securing the loan?
 2. Is the dwelling a mobile or manufactured home?                                                                                  See 3
 3. If the answer to #2 is YES, is the dwelling subject to a security agreement and is the security interest perfected with state           See 4
    and/or local authorities?
 4. If the answer to #3 is NO, is the dwelling permanently attached to the real estate and considered by taxing authorities to
    be part of the real estate?
 5. Does the file contain a property valuation (e.g. an appraisal, broker’s opinion, assessed valuation for property taxes, or an
    internal property evaluation) indicating the value of the property?
 6. If the property is mixed use (farm or commercial), does the property valuation indicate the value of the dwelling is equal
    to or greater than 50% of the total property value?
 7. Is the loan amount less than or equal to 100% of the value of the first mortgage real estate?
                                                              *****
    Is the loan eligible for pledging as 1-4 Family First Mortgage Participation Loan collateral?

     Form Completed By:
     Date Form Completed:


                                                       Checklist-216 PTPN RES 1-4 – Revised June, 2007

								
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