Welcome to FHLBank Indianapolis’ centralized COVID-19 blog to keep our Michigan and Indiana members apprised of crucial business information, regulatory requirements, or other important updates during the COVID-19 Pandemic. We are open for business as always, and are committed to serving your needs during this time.

Don’t hesitate to contact us at memberservices@fhlbi.com with any questions or concerns.

Cindy Konich,
President and CEO 

Advantage MPP: Covid-19 Relief for Borrowers Update

On March 20, 2020, Advantage MPP published Bulletin 02-20 COVID-19 Relief for Borrowers Update.

As a follow up to MPP Bulletin 01‐20 issued March 16, 2020, this Bulletin is intended to provide additional guidance as it relates to the COVID‐19 crisis. In addition to the guidance provided in 01‐20 and the MPP Guide, FHLBank Indianapolis is authorizing: 

  • Suspension of foreclosure sales and evictions for the next 60 days (with the exception of properties that have been determined to be vacant or abandoned.)
  • Suspension of any negative credit reporting for borrowers under loss mitigation agreements related to COVID-19.
  • Waiver of late fees for all borrowers under loss mitigation agreements related to COVID-19.

We are striving to stay in line with the guidance of Fannie Mae and Freddie Mac as it relates to the above identified issues.  For more specific guidance by Fannie Mae and Freddie Mac, please refer to their recently published bulletins:

As Fannie Mae and Freddie Mac issue additional guidance on the above related issues, our intention is to continue to follow their guidance. If our guidance should vary, we will issue additional bulletins.  

This situation is fluid; Advantage MPP staff will continue to monitor and provide updates as this situation evolves. As always, please contact our staff with any questions related to this bulletin.

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YOUR SOURCE OF RELIABLE LIQUIDITY

Rest assured that FHLBank Indianapolis is ready and able to meet our members' liquidity needs as the coronavirus spreads.

But are you prepared from your end? 

Please review this Coronavirus Preparedness letter from FHLBank President and CEO Cindy Konich to ensure your financial institution has everything it needs to access FHLBank Indianapolis liquidity during this time.