FHFA Issues Final Rule Amending Federal Home Loan Banks’ Affordable Housing Program Regulation

The Federal Housing Finance Agency (FHFA) has published a final rule amending its regulation for the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP).  The final rule provides additional flexibility at the local level for the FHLBanks, in consultation with their Advisory Councils, to allocate their AHP funds and to design their project selection scoring systems to address affordable housing needs in their districts. The amendments would also make the program easier to use, both for the FHLBanks and award recipients, by reducing regulatory monitoring requirements that are redundant with other federal programs.

FHFA will host a webinar at 2 p.m. EST, Dec. 13, 2018, to describe the final rule and answer questions.  Questions may be submitted in advance to DHMG.HCI@fhfa.gov.  Register here for the webinar.

The final rule has yet to be published in the Federal Register. Once it has been, CARH will publish in the Electronic AN Express.

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