Skip to main content

FHFA Proposes Changes to FHLBank Housing Goals

Phil Hall
Oct 30, 2018
The Federal Housing Finance Agency (FHFA) has requested input on is seeking comments on proposed amendments to the existing regulation for the Federal Home Loan Bank (FHLBank) Housing Goals

The Federal Housing Finance Agency (FHFA) has requested input on is seeking comments on proposed amendments to the existing regulation for the Federal Home Loan Bank (FHLBank) Housing Goals.
 
According to the FHFA, the proposed changes include creating a single prospective mortgage purchase housing goal as a share of each FHLBank's total Acquired Member Asset (AMA) purchases, establishing a new small member participation housing goal for participation by small institutions, and the elimination of the volume threshold in order to allow FHLBanks to propose different goals levels for mortgage purchases and small member participation. The changes would also simplify and expand the eligibility criteria to enable federally backed loans to count for goals purposes.
 
The proposed rule would override a December 2010 final that subjects a FHLBank to the housing goals if in a given year a FHLBank's AMA purchases exceed a volume threshold of $2.5 billion. The FHLBanks purchase mortgages through the AMA program, and participation in the program is voluntary.
 
“To be successful housing goals should lead the FHLBanks to make affordable housing part of their business plans for AMA," said FHFA Director Melvin L. Watt. “The overall approach of the proposed amendments will encourage FHLBanks and their members to build on the strengths of the AMA program to assist targeted borrower groups in a safe and sustainable manner."

 
Published
Oct 30, 2018
Mortgage Forbearance Changes Create Challenges for Servicers

65% Of All Plans Would Expire By The End of 2021

Regulation and Compliance
Aug 02, 2021
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021