Comments Sought on FHLBanks’ Affordable Housing Program

Phil Hall

Mar 07, 2018

The Federal Housing Finance Agency (FHFA) is seeking comments on proposed amendments to its regulation on the Federal Home Loan Banks' (FHLBanks) Affordable Housing Program.

Last year, the FHLBanks' net income generated $384 million in funding for this program, and the average contribution for the last five years has exceeded $300 million per year. The FHFA’s proposed amendments would enable the FHLBanks to redesign their project selection systems and create special targeted funds, thus allowing them more flexibility to align their funds with specific affordable housing needs in their districts.

Input is being accepted via the FHFA.gov or mail to FHFA headquarters in Washington, D.C., within 60 days of the publication of the request in the Federal Register.

Link copied

Published

Mar 07, 2018

Diversity & Inclusion

Mid Valley Funding Settles UWM 'All-In' Lawsuit

Agrees to pay $40K over allegations it violated its broker contract; UWM had sought $310,000.

A California mortgage brokerage has agreed to settle a lawsuit over claims it violated the controversial “All-In Initiative” imposed by United Wholesale Mortgage (UWM). Mid Valley Funding & Investment Inc. (MVF) has agreed to pay $40,000 to settle the lawsuit, according...

Courts

Sprout Agrees To Settle Lawsuits Over Unpaid Wages For $3.5M

Deal would compensate former employees left unpaid when lender abruptly closed July 6.

Former Sprout Mortgage employees who went unpaid when the lender abruptly closed in July 2022 would each receive $2,500 from a settlement the company agreed to in federal court. Filed June 1, the agreement, which still requires court approval, is the result of four class-ac...