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#1459662 - 10/26/10 06:18 PM FHLB wants physical delivery of collateral
Anonymous
Unregistered

Does anyone know what this means? Do we have to turn over our physical files?

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#1459667 - 10/26/10 06:23 PM Re: FHLB wants physical delivery of collateral Anonymous
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Most of the FHLBanks classify each member by the method of pledging collateral into one of three collateral categories: blanket lien status, listing (specific) pledge status, or possession (delivery) status.

So, yes, if you are being changed to delivery status, they want the collateral. I'm sure there has been correspondence with the bank.

You may find this useful:

http://www.fhlb-of.com/ofweb_userWeb/resources/lendingqanda.pdf
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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