FHLBNY Bulletin No. 012
June 21, 2013
Changes to Collateral Lendable Values
The Federal Home Loan Bank of New York (the “FHLBNY”) remains committed to meeting your liquidity needs and understands the importance of maximizing your borrowing potential.
Supporting this commitment, and reflecting the continued strength in commercial real estate fundamentals, the FHLBNY is amending the collateral Lendable Values (LV) for pledged income-producing mortgages. Specifically, the base margins applied to both multifamily and commercial loans will be reduced to 20% and 25% from 25% and 30% respectively. The effect of these changes will be increased borrowing capacity against your income producing mortgages, which will be available to you Monday June 24th.
If you have any questions about the changes discussed above, please do not hesitate to call your respective Calling Officer at (212) 441-6700 or contact Bryan Gallagher, Director of Collateral Valuations & Analysis directly at (201) 356-1148.