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: Servicer Reporting

As borrowers financially impacted by the COVID-19 pandemic are granted payment forbearances, a need to identify and track these loans is becoming vitally important. For that purpose, FHLBank Indianapolis is initiating a new reporting requirement. 

This new reporting procedure is outlined in Bulletin 04-20.

Servicer Reporting Procedure for COVID-19 Payment Forbearance:

  1. Servicers granting payment forbearance to borrowers must issue a report to Advantage MPP by the third (3rd) business day of each month.
  2. This report should include a list of the loans for which a forbearance has been granted as a result of the COVID-19 pandemic. For all loans presently known to be under a forbearance plan, please submit a report immediately and then begin the above cycle by the third (3rd) business day in May (May 5, 2020).
  3. The report should include:
  • Servicer’s loan number
  • Monthly P&I amount
  • Due date of the first suspended payment under the forbearance
  • Number of payments suspended under the forbearance
  • Type of final resolution to repay the suspended payments
    • In most cases the type of resolution may not be determined until the forbearance period ends and the borrower’s financial situation may be reevaluated. Until the resolution type is known, please report as ‘Not Determined.’
  • Date the final resolution is completed
    • Completion of the repayment plan or execution of modification, etc.
    • Upon completion, the loan is expected to be reflected as current.
  • Example:
  • example
  • Once the loan is current and has been reported with a Resolution Completed Date, the loan no longer needs to be reported.
  • Please note, ‘Personally Identifiable Information’ has purposely been left off the report to eliminate the need to send the report via a secure method.

4. The reporting should be sent via email to defaultreporting@fhlbi.com with a subject line of COVID-19 Reporting.

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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.