Regional Underwriter Approved for Funding by Federally Chartered Bank
July 12, 2010
Agents National Title Insurance Co. (ANTIC) was recently approved as a member of the Federal Home Loan Bank of Des Moines.
The Federal Home Loan Bank of Des Moines (FHLB Des Moines) is a federally chartered corporation that provides funding and liquidity for its membership, which includes eligible insurance companies.
As a condition of membership, all FHLB Des Moines members must purchase and maintain membership capital stock based on a percentage of their total assets. Each member is also required to purchase and maintain activity-based capital stock to support certain business activities ANTIC intends to use loans (called advances) from the FHLB Des Moines to manage cash flow and fund operational needs.